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Published on 27/02/2020 2:50:49 PM | Source: HDFC Securities Ltd

Momentum Pick : JSW STEEL Ltd For Target Rs. 270 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #JSW Steel Ltd. #HDFC Securities #Trading Report

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Momentum Pick : JSW STEEL Ltd For Target Rs. 270  -   HDFC Securities

* After showing a minor declines/sideways consolidation, the option price has shifted into an upside bounce today.

* Currently, the price is making an attempt to show upside move above the key upper resistance.

* The short term trend has turned positive.

* We observe a formation of positive candlestick pattern as per daily timeframe chart.

* Volume has started to rise along with the up move in the stock price.

* The daily RSI is showing positive indication.

* Monthly RSI is hovering near 40 level, indicates support at current level.

 

Recommendation

Buy JSW STEEL Ltd  @ 243 - 252.55 SL 239 Target 270

 


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