JSW STEEL BREAKS OUT OF ASCENDING TRIANGLE WITH HUGE PROFITS

21 Jul 2023

TECHNICAL ANALYSIS :

1. ASCENDING TRIANGLE BREAKOUT -
   
   Price has broken out of the pattern 2-3 weeks back on weekly chart
   
   
2. 50D & 100D SMA REVERSAL -
   
   Price has also taken support on 50D & 100D SMA simultaneously a few months back and have reversed from those levels since then
   
   
3. VOLUME SPIKE -
   
   Price has shown volume spike on the previous week (10th july)
   
   
4. BREAKOUT FROM STRONG SUPPORT-RESISTANCE ZONE -
   
   Price has broken out of the strong level which had earlier acted as a strong support zone
   

FUNDAMENTAL ANALYSIS :

1. OUTSTANDING EPS COMPARED TO PEERS -
   
   Its mar'23 eps was ~12 compared to meagre 1.40 eps of its competitor
   
   
2. OUTSTANDING EBIT MARGIN COMPARED TO PEERS -
   
   Its mar"23 ebit margin was ~12 compared to meagre ~7 of its competitor
   
   
3. OUTSTANDING NET PROFIT MARGIN COMPARED TO PEERS -
   
   Its mar"23 net profit margin was ~7 compared to meagre ~2 of its competitor
   
   
4. TRIPLE PROFITS ON CURRENT QUARTER -
   
   On top of everything they have also posted almost triple profits in jun quarter'23 giving more convictions to the prediction
   

TAKE PROFIT & STOP LOSS -

TP - 1028
SL - 740

6 Nov 2023

Dagangan ditutup: hentian tercapai

SL has been hit long time back