Buy JSW Steel, target Rs 321: Mazhar Mohammad
Buy JSW Steel at a price target of Rs 321 and a stop loss at Rs 285.
Mazhar Mohammad of Chartviewindia.in has a buy call on JSW Steel with a target price of Rs 321.
The current market price of JSW Steel is Rs 296.15.
Time period given by the analyst is two weeks and he recommended keeping a stop loss at Rs 285.
"For last couple of trading sessions, this counter appears to be moving in a range of Rs 300–285. Price behaviour of last session is looking quite interesting as this counter moved sharply after almost testing the lower end of said consolidation range on relatively higher volumes. Hence, in anticipation of a breakout, positional traders should buy into this counter and look for a initial target of Rs 321. Stop suggested for the trade is a close below Rs 285," said Mohammad.
JSW Steel, incorporated in the year 1994, is a largecap company (having a market cap of Rs 72,262.81 crore) operating in the iron and steel sector.
The current market price of JSW Steel is Rs 296.15.
Time period given by the analyst is two weeks and he recommended keeping a stop loss at Rs 285.
"For last couple of trading sessions, this counter appears to be moving in a range of Rs 300–285. Price behaviour of last session is looking quite interesting as this counter moved sharply after almost testing the lower end of said consolidation range on relatively higher volumes. Hence, in anticipation of a breakout, positional traders should buy into this counter and look for a initial target of Rs 321. Stop suggested for the trade is a close below Rs 285," said Mohammad.
JSW Steel, incorporated in the year 1994, is a largecap company (having a market cap of Rs 72,262.81 crore) operating in the iron and steel sector.
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