OUR RECOMMENDATION
| CMP# | 336.65 |
| Idea | BUY |
| Buy Range | 332 – 340 |
| Target | 380 – 390 |
| StopLoss* | 320 |
| 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#
COMPANY OVERVIEW
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.
| Stock Data | |
| NSE Code | JSWSTEEL |
| Sector | Metal |
| 52W High | 427.55 |
| 52W Low | 237.6 |
| Face Value | 1 |
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.
