|Buy Range||332 – 340|
|Target||380 – 390|
|Duration||50 – 60 Trading Sessions|
|Potential Return^||14 – 17%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|336.65||BUY||332 – 340||380 – 390||320||50- 60 Trading Sessions||14 – 17%|
# CMP on Nov 19, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 358.
^ The returns are calculated based on CMP#
JSW Steel is the second-largest private sector steel company, spanning their business over 140 countries having product range of TMT bars, hot-rolled, cold-rolled, galvanized sheets, wire rods & special steel bars, rounds & blooms. JSW Steel is part of O.P.Jindal Group. In Q2FY19 the company’s Net Profit jumped by Rs.1603 crore for the September 2018 quarter, against Rs 829 crore in the year-ago period. This Sajjan Jindal led firm had offered to pay 19,350 crores for the takeover of the debt-ridden firm Bhusan Power which is further to be approved by NCLT.
TECHNICAL OBSERVATIONS (WEEKLY)
- A weekly trendline has drawn since May 2017. The trendline is positive.
- Buying at support will be a good opportunity. This way we are respecting the main trend.
- Price is now on the Upward trend line. Buying here can have a good risk-reward ratio.