NSE JINDALSTEL – Bearish Breakdown
NSE JINDAL STEEL appears to be exhibiting weakness on the daily timeframe. The security is currently trading below the 20/50/100 Exponential Moving Averages. The RSI (Relative Strength Index) of the price has dropped to 33.36, indicating potential bearish sentiment. Additionally, the Average True Range (ATR) of the price has surged to 16.98.
The price has established strong support at 639, which has facilitated four previous reversals. If the price were to breach this support level at 639, traders may consider selling with the following potential targets: +. It is important for traders to exercise caution when justifying a breakdown of this support level. Free subscribers can use the previous day’s high as a reference point for invalidation.
Premium subscribers will get trade setup with entry, exit and invalidation level at exact time.