The upmove within the inventory of Jindal SAW is gaining momentum. The inventory had surged about 7.5 per cent on Wednesday. This rise has taken the share worth nicely above an intermediate resistance degree of ₹518. The short-term outlook is bullish. Optimistic transfer common cross overs on the each day chart additionally strengthens the bullish case. Assist will now be within the ₹518-₹515 area which might now restrict the draw back.
Jindal SAW share worth can go as much as ₹590 over the subsequent two-three weeks. Merchants can go lengthy now at round ₹534. Accumulate on dips at ₹524. Hold the stop-loss at ₹495 initially. Path the stop-loss as much as ₹545 as quickly because the inventory worth goes as much as ₹555. Transfer the stop-loss additional as much as ₹560 when the value touches ₹575. Exit the lengthy positions at ₹590.
(Be aware: The suggestions are primarily based on technical evaluation. There’s danger of loss in buying and selling.)
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