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JSL Ltd

Buy JSL  Ltd @ 670 SL 625 Target  760 Duration : 1 Month

JSL is currently poised near a breakout from a descending trendline on the daily chart. The price action indicates healthy consolidation just below the breakout zone, suggesting accumulation and reduced selling pressure. A decisive close above Rs.675, backed by strong volumes, will confirm the breakout and potentially trigger the next leg of the uptrend.

The stock is trading well above its key exponential moving averages—20, 50, 100, and 200-day—indicating strength across short, medium, and long-term timeframes. Momentum indicators also support the bullish setup; the daily RSI is at 62.86, trending upward, and reflects rising strength without entering overbought territory. This alignment of price and momentum suggests the potential for sustained upward movement.

From a trading perspective, a buy-on-dips approach near the Rs.660 support zone could offer a favorable entry with a positional stop-loss at Rs.625. On the upside, once the breakout is confirmed, the stock has the potential to move towards Rs.760 and beyond, offering an attractive risk-reward setup for positional traders.

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