Comments
The outlook for Jindal Worldwide is bearish. The stock has been in a strong downtrend since the first week of September this year. The downtrend is intact. There is room for the share price to fall further from here. Strong resistance is in the ₹303-₹305 region. Any rise above the psychological ₹300 mark is likely to see fresh sellers coming into the market. So a rise beyond ₹305 is unlikely now.
Jindal Worldwide share price can fall to ₹283 from here in the next one-two weeks. Traders can go short now at ₹296. Add more shorts on a rise at ₹302. Keep the stop-loss at ₹306. Trail the stop-loss down to ₹292 as soon as the stock moves down to ₹289. Move the stop-loss further down to ₹290 when the price touches ₹287. Exit the short positions at ₹285.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.