Once can buy JSWSTEEL above 578.65 for a price Target of 630++ with a Stop Loss of below 514. Prices holding above 579 could give a new breakout. We also have RSI at around 64 and the prices trading above all important EMA which could support the movement of the prices. Today the stock has moved up 9% with a volume of 150,63,605.00. You can expect a pull back scenario in this counter. JSWSTEEL is trading at a P/E ratio of 9 compared to the sector P/E ratio of 13 makes it an attractive pick.
The views presented are of the author and do not represent a trade. Kindly consult your financial advisor before investing.