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JSW Steel Ltd

Buy JSWSTEEL @ 1085 with a target of 1250 and a stop loss at 1010

JSW Steel is currently trading at Rs.1085 and has recently given a breakout from an Ascending Triangle pattern on the daily timeframe. This bullish continuation pattern, backed by consistent trading volumes, indicates strong accumulation and growing strength in the prevailing trend. The successful retest of the breakout level further strengthens the stock’s long-term bullish outlook, suggesting that the uptrend could extend toward new highs.

Momentum indicators are also supportive, with the Relative Strength Index (RSI) at 64.80 and trending upwards after a positive crossover. This reflects rising bullish momentum and signals that there is still room for further upside. Additionally, the stock continues to hold comfortably above all key moving averages, showing strong support from crucial trend levels and reinforcing the positive sentiment.

If JSW Steel sustains above the breakout zone and decisively crosses the Rs.1,100 mark, it could trigger a fresh leg of rally. The stock has the potential to move toward the Rs.1,250 level in the near term, while a prudent stop-loss can be placed at Rs.1,010 to manage risk effectively.

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SEBI Registration no.: INZ 000160131