JSW STEEL LTDShort
#JSWSTEEL Analysis For Swing
JSW steel is performing too well from starting of 2021 but get slow down in mid 2021 till now.JSWSTEEL
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JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe.
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If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade.
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JSW STEEL has taken resistance from 770 to 785 Often.
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Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400.
NIFTY
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ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout.
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Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position inJSWSTEEL.
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Target Could be 200 Moving Avarage, And stop loss is above resistance level
JSWSTEEL.
JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe.
.
If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade.
.
JSW STEEL has taken resistance from 770 to 785 Often.
.
Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400.
NIFTY.
ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout.
.
Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position in
JSWSTEEL..
Target Could be 200 Moving Avarage, And stop loss is above resistance level
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