JSW steel is performing too well from starting of 2021 but get slow down in mid 2021 till now.
JSWSTEEL
.
JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe.
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If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade.
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JSW STEEL has taken resistance from 770 to 785 Often.
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Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400.
NIFTY
.
ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout.
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Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position in
JSWSTEEL
.
.
Target Could be 200 Moving Avarage, And stop loss is above resistance level
JSWSTEEL
.
JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe.
.
If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade.
.
JSW STEEL has taken resistance from 770 to 785 Often.
.
Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400.
NIFTY
.
ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout.
.
Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position in
JSWSTEEL
. .
Target Could be 200 Moving Avarage, And stop loss is above resistance level
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