Stock Picks - Buy Jindal Stainless Ltd For Target Rs. 184 - ICICI Direct
Technical Observations
* The stock is in strong up trend forming higher peak and higher trough in all time frame. It is currently at the cusp of breakout above last two months range (| 168-140) signaling resumption of up move and offers fresh entry opportunity
* We expect the stock to accelerate its current up move and head towards | 184 levels as it is the 138.2% external retracement of the last two months breather (| 168-126) placed at | 184 levels
* The stock is seen rebounding taking support at the 50 days EMA (currently at | 150) which has acted as strong support in the entire up move since April 2021 signalling a positive price structure
* The daily 14 periods RSI has generated a buy signal moving above its nine periods average thus validates positive bias
Buy JSL Industries Ltd @ 165.00-168.00 TGT 184 SL 158
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
Above views are of the author and not of the website kindly read disclaimer
