Hi Traders,
We saw a good sell off in the indian markets, the jsw steel chart seems very attractive for us. The price is still in an uptrend as per the 4h and daily timeframe. We have the goldenzone between 282.15 and 278.90. The price has tested the golden zone and closed above this level. We have immediate resistance at 285.40 and 289.40. A good and safe trade setup can be when the price breaks the trendline and the resistance at 285.40.
A buy entry can be placed when price retest the broken resistance, and the target can be placed at the next immediate resistance.
For queries pls comment below.
Pls like the idea to show support.
Happy trading........
We saw a good sell off in the indian markets, the jsw steel chart seems very attractive for us. The price is still in an uptrend as per the 4h and daily timeframe. We have the goldenzone between 282.15 and 278.90. The price has tested the golden zone and closed above this level. We have immediate resistance at 285.40 and 289.40. A good and safe trade setup can be when the price breaks the trendline and the resistance at 285.40.
A buy entry can be placed when price retest the broken resistance, and the target can be placed at the next immediate resistance.
For queries pls comment below.
Pls like the idea to show support.
Happy trading........
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