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Technical Observations

The stock has witnessed breakout from six week consolidation range (| 80-60) with strong volume signalling resumption of the up trend and offers fresh entry opportunity

The stocks has resumed its uptrend after a higher base formation above the 200 day EMA signalling a positive structure. We expect it to head towards its 52 weeks high placed around | 96 levels in the coming weeks

The stock has immediate support around 76 levels (61.8% of the preceding five sessions up move (| 71 to 86).

The last three sessions up move is supported by strong volume of almost five times the 200 days average volume of 13 lakhs share per day highlighting larger participation in the direction of the uptrend

The daily MACD (12,26,9) is in rising trajectory and is seen sustaining in the positive territory thus supports the positive bias in the stock

Buy JSL Limited @ 81.00-84.00 TGT 93.00 SL 76.00

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