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Stock of the day : Buy 550 PE Jindal Steel & Power Ltd For Target Rs. 22 - Religare Broking
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JINDALSTEL
* After a sharp rally, JINDALSTEL is currently witnessing profit taking.
* It is gradually inching lower after the breakdown from the short term moving average (20 EMA) on the daily chart.
* The current chart structure combined with the recent decline in metal pack is pointing towards further fall.
* We thus suggest creating fresh short positions through the Put option.
Technical Chart : Daily
BUY 550 PE Jindal Steel & Power Ltd CMP: 13.20 Range: 11-12 SL: 6 Target: 22
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