Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

⭐️ Ultra Equity Advice #123 | Sell | Expected Profit 17-32%

  Sell    JINDAL STEEL & POWER  

CP#88.85
IdeaSELL
Sell Range95 – 85
Target75 – 62
StopLoss*102.5
Duration15 – 20 Trading Days
Potential Returns^17 – 32%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
88.85SELL95 – 8575 – 62102.515 – 20 Trading Days17 – 32%

# CP – closing price on Mar 27, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 80.
^ Potential returns are calculated based on the median of sell range.

 Verify Ultra Equity Advice #123

To verify our authenticity and credibility, do check the trading position update and recommendation timestamp. Be assured such records are permanent and irreversible.

COMPANY OVERVIEW - JINDAL STEEL & POWER

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. In Q3FY20 Jindal Steel and Power Limited has reported the consolidated Net Loss of Rs. 218.57 crore, profit dropped by 832.56% YOY.

Stock Data
NSE CodeJINDALSTEL
Sectoral IndexNifty Metal
52W High202.4
52W Low86
Face Value1
Relative Performance_Jindal Steel & Power vs Nifty Metal Index

JINDAL STEEL & POWER TECHNICAL ANALYSIS (WEEKLY)

Jindal Steel Technical Analysis Weekly Chart
Jindal Steel & Power Technical Analysis - Weekly Chart
  • The primary trend is negative for this stock. Since 2008, the stock had been moving in a wide falling range as marked by Multiyear Support and Resistance.
  • Jindal Steel and Power share price recently made a downside Breakout and fallen below two crucial Support as follows:
    (i) Support-Resistance zone breakout: Looking at the historical price action, we find this zone act either support or resistance since 2008.
    (ii) Trendline Breakout since 2016.

JINDAL STEEL & POWER TECHNICAL ANALYSIS (DAILY)

Jindal Steel Technical Analysis_Daily Chart
Jindal Steel Technical Analysis - Daily Chart
  • The share price has been declining trend since the beginning of March 2020 after a valid trendline breakout and gap down open, which indicates a sharp weakness over the last few days.
  • Jindal Steel and Power stock price is consolidating in a sideways direction and formed a ‘Symmetrical Triangle’ pattern on the daily chart.
  • Momentum indicators like the 14-days RSI is below 30, which points out for a negative breath in the stock.

CONCLUSION - JINDAL STEEL & POWER SHARE PRICE FORECAST

Based on our short term trading calls, Jindal Steel and Power share price target will be 75 – 62 in the next few days.

JINDAL STEEL & POWER SHARE PRICE LIVE UPDATE - POSITION & ACTIVITIES

Position: Short Jindal Steel & Power at ₹ 87 by GoodluckCapital on TradingView

Position: Short Jindal Steel & Power at ₹ 87 by GoodluckCapital on TradingView

  • 30 March 2020

    Goodluck Capital Recommendation
    ⭐️ Ultra Equity Advice #123

  • 1 April 2020

    Trade Closed: target reached
    Target Hit - 62

  • 1 April 2020

    Comment
    ✔️ Return 28.7%

Follow This Post On Social Media

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

Enjoy this recommendation?
Share with your friends

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram
Share on email

Your return could be much more

PROFITABLE!

access our premium recommendations

Swing Trading Advice

3 Months / 6 Months / 1 Year
7990 for 3 months*
  • * referred calendar months here
    e.g. Jan 20, 2020 — April 20, 2020

  • average 5-6 trades/ month
  • indian stocks + major index
  • short to medium term trade
  • ...and other exclusive benefits
Ultra

Subscribe With Us

Get free Trading tips and Investment advice

We respect your privacy.

Recent Posts

Recent Posts

For Business Queries, Call Us (+91) 9477-83-8855

You cannot copy content of this page