The short-term outlook is bullish for JSW Energy. The stock surged 5.9 per cent on Monday and has closed on a strong note. This rise has taken the share price well above the 200-Day Moving Average (DMA), which is currently at ₹275. This 200-DMA will now act as a good support. So, any intermediate dips can now be limited to ₹275 as fresh buyers can come in at that level. JSW Energy share price can rise to ₹330 over the next three-four weeks.
Traders can go long at current levels. Accumulate on dips at ₹278. Stop-loss can be kept at ₹263. Trail the stop-loss up to ₹295 as soon as the stock moves up to ₹305. Move the stop-loss further up to ₹310 when the share price touches ₹320. Exit the long positions at ₹325.
Note: The recommendations are based on technical analysis. There is risk of loss in trading