Jindal Steel - Falling wedge + Coming out of correction soon!
Key Highlights:
1. Potential change in MS underway
2. Falling wedge pattern
3. Rejection from trendline atm
4. Approaching the demand zone
5. Ripe for the next impulsive move
6. Accumulate between 370-380
7. Target: 410, 445, 499
8. Stop loss: 364
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
1. Potential change in MS underway
2. Falling wedge pattern
3. Rejection from trendline atm
4. Approaching the demand zone
5. Ripe for the next impulsive move
6. Accumulate between 370-380
7. Target: 410, 445, 499
8. Stop loss: 364
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Note
Morning update: Jindal steel is currently sitting at the confluence of the previous demand zone + 0.618 Fib level + 200 MA. May see a good bounce from here. Bulls need to save the 200MA for a further up move.EOD update: Jindal Steel was able to bounce from our confluence zone, though it doesn't seem like a great bounce. The volume is still lacking.
Global Community Manager,
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TradingView
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Global Community Manager,
TradingView
TradingView
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.