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Jindal Steel Ltd – Cup & Handle Breakout Forming | Technical Analysis





Jindal Steel Limited (NSE: JINDALSTEL) is showing a strong bullish setup across multiple timeframes — monthly, weekly, and daily charts. The stock has formed a classic Cup & Handle pattern, which is one of the most reliable continuation patterns in technical analysis.

🔍 Chart Overview

  • Pattern: Cup & Handle

  • Timeframe: Monthly / Weekly / Daily

  • Current Market Price (CMP): ₹1,066

  • Resistance / Breakout Zone: ₹1,090 – ₹1,100

  • Key Supports: ₹986 / ₹882 / ₹770

📈 Technical View

The stock is currently consolidating near the neckline zone of ₹1,097.
A strong monthly or weekly close above ₹1,100 will confirm a breakout and open the door for higher levels.
Volumes are expected to increase post-breakout, indicating renewed buying interest.

🎯 Targets (Post Breakout)

If the price sustains above ₹1,100:

  • Target 1: ₹1,250

  • Target 2: ₹1,380

  • Target 3 (Extended): ₹1,500

⚙️ Stop-loss

  • Stop-loss: ₹985 (on weekly close basis)

⏰ Time Horizon

  • Medium to Long Term: 3 to 6 months

💬 Conclusion

Jindal Steel Ltd is at a critical breakout point after forming a long base.
A successful breakout above ₹1,100 may lead to a fresh uptrend toward ₹1,250–₹1,500 levels.
Traders should watch for sustained closing above ₹1,100 for confirmation.

📢 Disclaimer:
This analysis is for educational purposes only and not a buy/sell recommendation. Always consult your financial advisor before investing.


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