JSW STEEL - Butterfly Patten
Jsw Steel looks good on all time frames, the weekly and daily charts are in sync helping prices to move swiftly.
There is a probability of the Butterfly pattern, which is a five-legged harmonic pattern, which if unfolds can take the stock to 725 to 755 levels in the coming weeks.
I would wait for a Dip to enter the stock, however, there are chances that we might not get a dip, as price action looks quite strong.
So I will take FOMO trade right now, despite strong price action, because it is better to wait for a halt than jump on the fast-running train.
Hence if the dip comes, there is a trade on the table. otherwise, move on to the next bet.
Support at 670-680
There is a probability of the Butterfly pattern, which is a five-legged harmonic pattern, which if unfolds can take the stock to 725 to 755 levels in the coming weeks.
I would wait for a Dip to enter the stock, however, there are chances that we might not get a dip, as price action looks quite strong.
So I will take FOMO trade right now, despite strong price action, because it is better to wait for a halt than jump on the fast-running train.
Hence if the dip comes, there is a trade on the table. otherwise, move on to the next bet.
Support at 670-680
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