Jindal Steel Bang on! 2 Best Indicators you cannot miss!
Sep 16, 2024
Sometimes simple price pattern along with price indictors and Volume Profile creates wonder if one combines it together! See yourself how we identified such a massive move in Jindal Steel. Check out how we accurately predicted on the possible up move on Jindal Steel which has rallied and achieved our target in just 1 trading session.
We published about Jindal Steel in "Vayu Short Term Update" on 13th September 2024 which our subscribers receive pre-market. Check out below the detailed research report that we published.
Jindal Steel Daily chart anticipated on 13th September 2024
Jindal Steel Daily chart with Volume Profile anticipated on 13th September 2024
Wave analysis:
In the previous session, Jindal Steel gave a gap-up opening and gained more than 3.90% with a rise in volume reflecting increasing bullishness in the underlying. Since 9th Sept, prices have not given a close below the previous day’s low which suggests escalating buying pressure. Currently, Bollinger Bands® are widening and the prices are trading above the upper band indicating increasing volatility and strength of the trend respectively. As per the volume profile, prices have taken support at 934 levels and bounced back on the upside. Now next hurdle is near 1030-1040 levels. In short, the overall trend for this stock is bullish.
Key Resistance – 1040
Key Support – 980
Trade setup for intraday future – Long positions can be created above 1015 levels with the targets of 1022 followed by 1030 and stoploss of 1007 levels.
Trade setup for Positional Futures – Long positions can be created above 1015 with TGT1 1030 TGT2 1050 and stoploss of 995.
Trade setup for Options – JINDALSTEEL 980CE BUY ABOVE 40.5 SL 33 TGT1 46 TGT2 52
Jindal Steel Daily chart happened on 16th September 2024
Happened – The stock has moved as we anticipated. Prices showed a rise of more than 3.7% and not only achieved targets of 1040(spot) but breached above it and made a fresh high of 1049 in today’s session. We successfully captured a up move and target was achieved in future and options segment as well!
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