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Buy JINDALSTEL in Cash @ 1012 Add Upto 990 TGT 1160/1220

On the daily chart, after marking its record high, the stock has undergone a brief retracement followed by a consolidation phase. This consolidation has taken the shape of a falling trend line formation Recently, the stock has given a breakout above this falling trend line and is now resuming its bullish trajectory

If the stock sustains above this breakout zone, it could move higher to retest its record high and potentially advance towards new highs in the target range of 1.160-21.220

JINDALSTEL is comfortably trading above all its key moving averages, including short-term, medium-term, and long-term EMAs, highlighting overall trend strength. The RSI is placed at 6155. showing a positive crossover and trending upwards, indicating rising momentum in the ongoing move

Based on this technical structure, we recommend initiating a buy position in the stock at the current market price of 1,012 and adding on dips towards #990. On the downside, 940 would act as a strong support zorie, and a breach of this level could temporarily challenge the positive structure, warranting a cautious approach

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