We have seen an amazing bull run in JSWSteel during the metal sector rally of 2020-21.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks, it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks, it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
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Stock has started a good uptrend.
You definitely shouldn't miss this breakout.