On the daily basis chart analysis, Jindal Steel & Power price has formed an “Ascending Triangle” breakout. This breakout is accompanied with a tremendous volume which supports bullish sentiments ahead.
The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in the positive terrain which supports upside momentum to continue in the near-term.
The stock is well placed above its 20, 50 and 100-day SMA which supports the bullish sentiments ahead. It can be bought in the range of Rs 230-235.
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