JSWSTEEL trade ideas
Breakout and Retest in JSW STEELThere is a breakout and retest in JSW STEEL. Please add this stock to your watch list. Lets wait for a bullish candle on Monday before taking the trade. Entry above 680 should be good.
DISCLAIMER: The ideas are only for educational purposes and not buy/sell recommendation. I am NOT SEBI registered.
JSW STEEL BULLISH PENNANTHello traders,
The last two analysed stocks MOTHERSUMI and TCS have hit their target so you can book or trail.
The stock I have got for you today is jswsteel, it's trying to give a breakout at the time I am writing this idea.
It's breaking the counter-trendline which has been the resistance for 3 nodal touches, and it has also made a Bullish Pennant on weekly timeframe.
Buy above closing - 682
Targets mentioned in the chart above.
RSI is in bullish zone
MACD is Bullish
Pattern is on Daily as well as weekly timeframe.
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Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
Short with 1% risk and RR of 1:2Short with 1% risk and RR of 1:2
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NOTE: You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk."