### **Jindal Steel Ltd (Daily Time Frame) – Bullish Harmonic Reversal Setup**
📊 **Stock:** Jindal Steel Ltd (NSE)
The stock has completed a **Bullish Harmonic Pattern** near the **D point**, where price is reacting from a strong demand/support zone around **₹1,010**.
### **Technical View**
* ✅ Bullish Harmonic Pattern completed.
* ✅ Price is holding above the PRZ (Potential Reversal Zone).
* ✅ Buyers are defending the support area.
* ✅ A sustained move above recent swing highs could confirm the reversal.
### **Trading Plan**
* **Entry:** Around ₹1,035–₹1,045 (after bullish confirmation).
* **Stop Loss:** Below ₹1,010.
* **Target 1:** ₹1,123 (38.2% Fibonacci)
* **Target 2:** ₹1,158 (50% Fibonacci)
* **Target 3:** ₹1,193 (61.8% Fibonacci)
### **Risk Management**
Maintain strict stop-loss discipline. A daily close below **₹1,010** would invalidate the bullish harmonic setup.
> **Conclusion:**
> Jindal Steel is trading near a high-probability reversal zone. If buyers continue to defend the support and momentum improves, the stock may witness a recovery towards the Fibonacci resistance levels. Wait for confirmation before taking a position.
**Disclaimer:** This analysis is for educational purposes only and is not investment advice. Always conduct your own research and manage risk appropriately.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.