Near Support of long trendline. Also near BO of triangle pattern. Keep an eye for further upside move.
430 st and 490 tg
Underlying logic: 1. The price gets rejected from a level repeatedly and forms a major resistance. 2. There is an initial test of supply which absorbs some pending orders 3. The price finds a bottom and some sort of accumulation happens. 4. After the accumulation, the price tries to move back up to retest the resistance level. 5. A bull trap is confirmed when...
JINDALSTEL: seems like it is in the process of finishing the full cycle Elliott wave and getting read for new one. Is it ready to go up?
Taking support at a important trendline. Also, it has small SL So, a good risk to reward ratio. APPROX 1:3
What to see for the week ahead on Jindal Steel:- 1• Jindal Steel Showing a Bullish continuation setup for the weak ahead look for a break of the trend line and a continuation for an entry in the trade. 2• Wait for the correction to confirm the trade‼️ 3• Target 🎯 1. 457.10 🎯 2. 501.05. 💸If you like my idea Do like and comment 💸
Jindal steel is in a very interesting pattern currently it is edge of support level. If 374 level breaks then we can consider this as a down-tread break out. If 392 level breaks then we can consider as a up-tread. Since metal stocks are underperforming over a week so please wait for right position.
The equal lows has been taken out and its forming a Volatility Contraction Pattern (VCP) over the demand zone, which gives us an entry and proves that it is ready to move. It should move further high and a good ROI is expected .
• You can see a potential short term buy entry on Jindal Steel For the week ahead • It has 1/4 risk reward ratio • Entry for trade is at :- 393.40 • Profit target is at :- 421.55 • Stop loss is at. :- 384.25 * For More Indian stock related ideas follow my Account and do tell in the comments your point of view about Jindal Steel.*
Broke the support & Formed Short if break ! Note :- Entry - At the break of mentioned candle's low/high Stop Loss - In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use smaller tf SL & trade in 15M or 30M tf which I'll mention. Vice Versa for long trades Trailing Stop Loss ( TSL ) -...
Its doing correction on its 3 hourly time frame One can accumulate for long terms/short term Immediate targets of 500 Safe traders can enter once and hourly candle closes above 416
Jindal steel Buy Supply zone breakout Potential upside of T1 - 500
Jindal Steel - Looking good for 1:2 RR 500 Target and 380 SL. Beyond 500 it has a potential for 650+. DISC: Not a SEBI Registered. I post charts for my own study.