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JSW Steel breakout

Discussion in 'Technical Analysis' started by sunil_hajeri, Oct 14, 2012.

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  1. sunil_hajeri

    sunil_hajeri New Member

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    JSW steel has made ,w' breakout entry 750-760 sl 730 tg 850-860 risk reward is 1:3
     

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    sunil_hajeri, Oct 14, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Perfect levels but what is your stop loss?
     
    shabbir, Oct 15, 2012
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  3. sunil_hajeri

    sunil_hajeri New Member

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    Stop loss is 730
     
    sunil_hajeri, Oct 15, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    That is intermediate support and major support at 660
     
    shabbir, Oct 15, 2012
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  5. sunil_hajeri

    sunil_hajeri New Member

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    Shabbir,

    If stop loss is 660, target is 860. My risk reward is only 1:1. can i enter the stock.
     
    sunil_hajeri, Oct 15, 2012
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  6. sunil_hajeri

    sunil_hajeri New Member

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    Also market is coming down. Can i enter now or wait for correction till 740-750.
     
    sunil_hajeri, Oct 15, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    Wait for break out and not for correction
     
    shabbir, Oct 15, 2012
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  8. sunil_hajeri

    sunil_hajeri New Member

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    Thanks Shabbir...
     
    sunil_hajeri, Oct 15, 2012
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  9. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Oct 15, 2012
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  10. naveen1241

    naveen1241 Responder

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    If finding any reverse signal, please update as well. (To Shabbir, Even if the stoploss @ 730 is not reached. :) )
     
    naveen1241, Oct 15, 2012
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  11. naveen1241

    naveen1241 Responder

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    What does the charts for JSW Steel signal as of now ?
     
    naveen1241, Oct 16, 2012
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  12. naveen1241

    naveen1241 Responder

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    By 660 major support, do you mean the higher top and higher bottom pattern gets broken or something else ?

    Thanks
    Naveen
     
    naveen1241, Oct 16, 2012
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  13. sujan4bw

    sujan4bw Member

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    my view is.....its going to form tripple top pattern.

    Movement in metal stocks is uncertain than other sectors at least that what i feel.
     
    sujan4bw, Oct 16, 2012
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  14. shabbir

    shabbir Administrator Staff Member

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    Yes. It would mean trend reversal but I see it as very low probability.
     
    shabbir, Oct 16, 2012
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