Diwali Picks Jindal Steel Ltd Target Rs. 1290 - 1360 by Prabhudas Lilladher Ltd
Jindal Steel Ltd
Buy Jindal Steel Ltd CMP (Rs) 1050 Target (Rs) 1290 - 1360 Stoploss (Rs) 900
The stock has recently witnessed a significant correction and has taken support near the previous low made at 1000 zone forming a triple bottom pattern on the daily chart with currently indicating a consolidation to improve the bias expecting for further rise in the coming sessions. The RSI has corrected well and has indicated a positive trend reversal from the oversold zone to signal a buy and with much upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for the upside targets of 1290 and 1360 levels keeping the stop loss of 900 level.
Please refer disclaimer at https://www.plindia.com/disclaimer/
SEBI Registration No. INH000000271
