Technical Stock Idea - Buy JSW Energy Ltd For Target Rs.1800 - Monarch Networth Capital
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JSW Energy Ltd
Prices were in strong momentum since March 2020 till Oct 2021 and then it went into 4 months of consolidation in the form of “Symmetrical triangle” formation and have recently broken out of the resistance line.
Prices are well sustained above 200 EMA marked with (dark black line) and it will act as immediate support to invalidate complete formation.
Momentum oscillator “Relative strength Index” (RSI) is gaining strength as it is sustaining above 60 level, which indicates further build-up in momentum should continue in coming days. It is recommended to Buy at Current Market Price or on dip keeping Stop loss at 260 level and Target at 408 - 470 levels
Daily Chart:
Buy : JSW Energy Ltd : CMP: 335 SL: 260 TARGET :- 470 TIMEFRAME: 3-4 MONTHS
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