Double bottom pattern is under formation in Jindal steel. 

The 2 identical bottoms noticed in 1-month gap. 

High volume noticed around 2nd bottom (B) The price started moving upwards and now near point ‘C’ with higher volume.

Long position may be initiated above Rs.114.6

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Stock Ticker – NSE: JINDALSTEL – Jindal Steel & Power Ltd. – METALS
Bullish Trade plan:
Entry Level 114.6 Target 137.7 Stoploss 91.5
Analyst Rating – :4/5
View Posted on 2019-10-29

7 Comments
  1. Donson 4 years ago

    Good spot bro..Thanks for your analysis..

  2. O S Loganathan 4 years ago

    Dear suresh, ideal double bottom pattern. Thank you ji. Keep it up in future market earning .

  3. Naresh 4 years ago

    Good spot… find Tata steel and mothersumi, these stock has given breakout above the neckline of double bottom formation, backed by strong volumes

  4. Author
    Suresh Surulimuthu 4 years ago

    The target achieved today on Jindal Steel.

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