JSW Steel - Bearish Pattern Seen (Update)

 

Weekly Chart (Before) 

Weekly Chart (Now)

JSW Steel falls from 1100 to 1000 odd levels in a week almost 10% returns nearing lower end of the channel. Still more downside left in the stock, But where to enter position next after crack of 10% is the thing to understand? How to manage the risk is vital. We need to get into finer detaisl.

Simple trendline along with Channeling technique would have provided the signal to enter short. But additional confirmation and timing is required to manage risk. It is as much as important to enter a position and to close in the process manage it though the process wherein Psychology, adaptability, risk management & Money Management other concepts are crucial aspects in either trading or investing.

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying basic concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

                             

Weekly Chart

• Bearish H & S Pattern formed in JSW Steel. What next ?
• The stock is below 13 - week EMA looking weak
• So applying 3 - 4 tools with confirmation of trend can assist in analyzing stocks or any liquid traded entities

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your INVESTMENT and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while INVESTING or trading in markets