Stock of the day : Jindal Steel And Power Ltd For Target Rs. 11 - Religare Broking Ltd
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Jindal Steel And Power Ltd
* After a five months of steady upmove. Jindalstel is now showing sign of distribution.
* It has given a breakdown from consolidation and trading below its short term moving average.
* Stock has witnessed a breakdown from squeeze Bollinger bands indicates bearish tone to extend further.
* We thus recommend creating shorts through the Put option.
Buy Jindal Steel And Power Ltd CMP 5.20; Range 5-5.50 SL 2 ; Target 11
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SEBI Registration number is INZ000174330
