Jindal Stainless Inverted H&S Breakout Setup | Big Move Ahead?

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Jindal Stainless is showing a strong Inverted Head & Shoulders pattern on the weekly chart—a powerful bullish reversal setup. Price is currently consolidating near a falling trendline, forming a symmetrical triangle. A breakout above ₹683.45 could unlock a significant rally towards long-term resistance zones.

📌 Key Technical Highlights:
Pattern: Inverted Head & Shoulders

Breakout Zone: ₹683.45

Current Price: ₹691.10

Volume: Consistent during formation, watch for spike

Consolidation Zone: Symmetrical triangle just below breakout

Neckline: Sloping resistance at ₹683.45

Confirmation: Close above ₹700 with volume

🎯 Upside Target Levels:
Target 1 / Resistance: ₹734.35

Target 2: ₹781.90

Target 3 / Reversal: ₹832.80 – ₹881.30

Long Term Target: ₹972.10

⚠️ Downside Risk Levels (if breakout fails):
Initial Support: ₹643.55

Next Major Support: ₹615.50

Trend Reversal Level: ₹587.40

Breakdown Risk: ₹552.70

Collapse Zone: ₹496.60 – ₹449.05

📈 Strategy Outlook:
Watch for breakout candle above neckline with volume

Enter above ₹700 with stop loss below ₹643.55

Add on dips above neckline

Exit if price breaks down below ₹587

⚠️ Disclaimer:
We are not SEBI registered. This analysis is for educational and informational purposes only. Please consult your financial advisor before making investment decisions.

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Nota

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