|Buy Range||130 – 138|
|Target||150 – 154|
|Duration||12 – 15 Trading Sessions|
|Potential Return^||12 – 15%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|134.05||BUY||130 – 138||150 – 154||123||12 – 15 Trading Sessions||12 – 15%|
# CMP on Nov 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 142.
^ The returns are calculated based on CMP#
Jindal Steel & Power Limited operates in the steel, power and infrastructure business in Asia, Africa, Australia and the Middle East. The company manufactures track rails, crane rails, railway wagon, oil and gas pipelines, TMT bars, angles, joints and operates in refinery projects, metro rail projects, structural fabrication, general engineering etc.
|Sectoral Index||NIFTY 500|
TECHNICAL OBSERVATIONS (MONTHLY)
- Stock Price has recently made monthly Breakout above the true crucial Resistance, at 118.
- Price has been holding above the support zone as displayed in the chart.
TECHNICAL OBSERVATIONS (DAILY)
- Last few trading sessions, the stock has made Higher Tops and Higher Bottoms at Daily Chart.
- The strong breakout rally of last five days ago signalling further northward journey in coming sessions.
- ADX and +DI – both are above 25, indicates buying momentum and probable further rise.