jindal stainless, rising cycle has started

metal sectors are cyclic in nature, jindal stainless chart is indicating that it has completed its downward cycle and entering into upward trend (see the downward and upward blocks). this is monthly chart so positions should be taken for long term. if goes down then take entry around 48, if remains above 59 then take entry at cmp for short term target of 69 and long term 100.