In the March quarter, metal companies reported a decline in earnings after consecutive strong seven quarters, primarily due to metal prices coming off. Going forward, earnings could come under further pressure given the weak global demand and overhang of global trade war.
You should always have a plan in case the opposite happens, since it will happen quite often. So if the trend reverses our plan also should be reversed accordingly. Volume is average as normal.
The trading range in JSW Steel is tight and high trading activities and price rotation found.
Currently trading below Pivot Line. Resistance is @301.48.
Conclusion: 80% by 20% chance to move to the given Target in a month’s time.
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Stock Ticker – NSE: JSWSTEEL – JSW Steel Ltd. – METALS
Bullish Trade plan:
Entry Level 276.20 Target 280 Stoploss 272.40
Analyst Rating – :4/5
View Posted on 2019-06-05
