Jindal Saw Ltd has shown a strong bounce from the ₹200–₹202 support zone after multiple tests. Today’s breakout candle above ₹227 is accompanied by higher volume, indicating potential trend reversal.
🔹 Previous structure: Prolonged downtrend
🔹 Structure shift: Higher low formed, followed by a breakout
🔹 Immediate Resistance: ₹240–₹245
🔹 If sustains above ₹227, move toward ₹260–₹280 possible in coming weeks
RSI also crossed 50 mark with momentum, supporting bullish sentiment.
🔎 Trade Setup (for study only):
• Entry: ₹231.90
• SL: ₹220 (below previous swing)
• Target 1: ₹245
• Target 2: ₹260
Disclaimer:
This analysis is for educational purposes only. This is not investment advice. Please consult with a financial advisor before making any trading decisions. Always do your own research.
🔹 Previous structure: Prolonged downtrend
🔹 Structure shift: Higher low formed, followed by a breakout
🔹 Immediate Resistance: ₹240–₹245
🔹 If sustains above ₹227, move toward ₹260–₹280 possible in coming weeks
RSI also crossed 50 mark with momentum, supporting bullish sentiment.
🔎 Trade Setup (for study only):
• Entry: ₹231.90
• SL: ₹220 (below previous swing)
• Target 1: ₹245
• Target 2: ₹260
Disclaimer:
This analysis is for educational purposes only. This is not investment advice. Please consult with a financial advisor before making any trading decisions. Always do your own research.
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.