Symmetrical Triangle on Jindal Steel
Chart Analysis - In the daily time frame of Jindal steel we can see a symmetrical triangle which is a sign of bullish trend but as we know market is supreme so patterns can be failed, blue arrows on the support trendline shows the re tested levels so possibility of breakdown is more.
we can take a help of indicators like:-
On RSI which shows the negative divergence and at 48 levels.
On DMI indicator DI- line is above the DI+ line and ADX is low means slow momentum in the stock
On Bollinger bands which is stretched now and resisting the 20 EMA line which is again a bearish signal.
Entry point/ short :- 395 - 398
Target 1 :- 369
Target 2 :- 336
Stop loss :- 419
Disclaimer :- I am not a SEBI registered analyst,I can be 100% wrong please do your own research before investing .
we can take a help of indicators like:-
On RSI which shows the negative divergence and at 48 levels.
On DMI indicator DI- line is above the DI+ line and ADX is low means slow momentum in the stock
On Bollinger bands which is stretched now and resisting the 20 EMA line which is again a bearish signal.
Entry point/ short :- 395 - 398
Target 1 :- 369
Target 2 :- 336
Stop loss :- 419
Disclaimer :- I am not a SEBI registered analyst,I can be 100% wrong please do your own research before investing .
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