Stock Insights: NSE WIPRO, LINDEINDIA & JINDALSTEL

NSE JINDALSTEL: From Flat Correction to Bullish Breakout

Timeframe: 4h

NSE JINDALSTEL has completed a corrective flat formation, adhering to equality guidelines. The final wave 5 of wave (c) concluded at 896, where an impulsive sub-division was identified. The security has recently broken above the 200 EMA, signaling that bullish momentum is gaining strength.

A head and shoulders pattern is also evident on the chart, with the horizontal neckline aligning closely with the corrective channel of wave 2. If the price breaks above wave B at 980, traders can aim for the following targets: 1005 – 1032 – 1070+. Bullish sentiment is likely to continue as long as the rules of the wave principle remain intact.

We will update further information soon.

LINDEINDIA – Breakout Setup

NSE LINDEINDIA appears strong on the daily timeframe chart. The price is finding solid support at the 200 EMA and has recently broken out of a minor range, surging over 5%. 

The Average True Range (ATR) of NSE LINDEINDIA is 245, indicating the stock’s recent volatility. Meanwhile, the Average Directional Index (ADX) is at 18.8, suggesting a relatively weak trend at the moment.

The price faced resistance at 7550, which was broken in the previous session. If the price holds above 7580, traders can aim for the following targets: 7908 – 8200 – 8500+. The given levels are strong supply zones.

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NSE WIPRO – Trade Setup