With Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel
JSWSTEEL
as it formed an extremely Bearish candle on Friday.
I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence.
Looks like the stock is heading towards 307 levels.
Good opportunity to go short with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
JSWSTEEL
as it formed an extremely Bearish candle on Friday. I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence.
Looks like the stock is heading towards 307 levels.
Good opportunity to go short with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.