Skip to main content

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.


Labels:

Comments

Post a Comment

Popular posts from this blog

How to make or income daily 1 to 2 lacks in india By Tradersguruji

  Making 1 to 2 lakhs (100,000 to 200,000 INR) per day in India is a significant financial goal, and there is no one-size-fits-all answer to this question. However, here are a few ideas to consider: 1.Starting a business: Starting a successful business can be a great way to earn a significant income. Consider identifying a market gap or a problem that needs solving and developing a business plan to address it. 2.Investing in the stock market: Investing in the stock market can be a good way to generate high returns, but it also involves a significant amount of risk. Consider investing in a well-diversified portfolio of stocks, bonds, and other financial instruments. 3.Trading: Day trading or swing trading in the stock market can be a way to earn significant profits quickly, but it is also high-risk. Consider gaining a solid understanding of the stock market and learning about technical analysis and risk management before investing. 4.Real Estate: Investing in real estate can be a p...
Post a Comment
Read more