Dev_Agrawal_

#JSWSTEEL Analysis For Swing

שורט
NSE:JSWSTEEL   JSW STEEL LTD
JSW steel is performing too well from starting of 2021 but get slow down in mid 2021 till now. JSWSTEEL
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JSW STEEL has a 2 very big Bearish RSI Divergence on Daily Timeframe.
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If you look at NIFTY METAL at the same timeframe you'll find same kind of divergence that indicates strong conformation to this trade.
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JSW STEEL has taken resistance from 770 to 785 Often.
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Along with this i have shared my previous analysis of NIFTY that show same kind of RSI bearish divergence from 18300 to 18400. NIFTY
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ADX has Shown some Weakness at its resistance level which shows Bulls are not making more positions at resistance so this make less possibility of up side breakout.
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Right now JSW STEEL is at Support of 50 Moving Avarage, so if it break this support we can make a short position in JSWSTEEL .
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Target Could be 200 Moving Avarage, And stop loss is above resistance level

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