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JSW Steel Ltd

BUY 25 AUG 1300 CALL Entry Range 16 – 20 Target 45 Stop Loss 6

Rationale

* JSWSTEEL continues to exhibit a bullish structure, forming higher highs and higher lows with sustained trading above the 20DEMA as well as 50-DEMA, reflecting strong underlying momentum. The recent breakout above the 1,280 resistance zone, accompanied by a strong bullish candle, indicates renewed buying interest and suggests the ongoing uptrend.

* Momentum indicators further support the positive outlook. RSI has moved above the 60 mark without entering the overbought zone, indicating room for additional upside. Meanwhile, the MACD remains in positive territory with a bullish crossover and rising histogram, highlighting strengthening upward momentum and improving market sentiment.

* As long as the stock holds above the 1270-1280 support zone, the bullish bias is expected to remain intact. A sustained move is expected above the 1300 mark in the coming session, which could trigger the further bullish momentum towards the 1340-1350 zone in the near term, while any dips are likely to attract the buying interest.

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SEBI Registration number is INZ00017433