STOCK : JSW STEEL LTD.
CMP : 772.15 (20/06/2022)
ABOUT : JSW Steel Ltd. It is an Indian multinational steel manufacturing company. It is a part of the JSW Group, a conglomerate of companies based in India. JSW Steel is one of the leading steel producers in India and operates several steel plants across the country.
TECHNICAL ANALYSIS CHART VIEW (WEEKLY TIME FRAME)
(CLICK ON IMAGE FOR CLEAR CANDLE STICK CHART VIEW)
OBSERVATION :
The above chart shows that the stock is currently trading near its ATH( All time high) near its resistance zone of (770-790)& can see a good ASCENDING TRIANGLE pattern.we may expect the stock to show good upside rally of 15-20% for short term period if its get breakout of its pattern. Above 800 stock will show good momentum towards (865/950/1130) levels.
How does ASCENDING TRIANGLE pattern works ? (CLICK HERE)
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Note : It's important to note that the is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation to buy or sell. Please consult your financial advisor before taking any financial decision.
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