JSW Steel: Decoding Breakouts and Identifying Valid Signals

JSW Steel, a leading Indian multinational, is a major steel producer with operations in India and globally. It manufactures a diverse range of steel products, serving sectors like construction, automotive, and infrastructure. Key operations include large-scale manufacturing plants, such as the Vijayanagar Works, and a focus on strategic acquisitions. 

The company emphasizes technological advancement, sustainable practices, and expanding its market reach. It has also secured raw material access via its own mines. JSW Steel is dedicated to growth, innovation, and maintaining a strong presence in the global steel industry.

ResponsibleSteel™ Certification:

JSW Steel has achieved ResponsibleSteel™ certification for four of its production facilities. This highlights the company's commitment to sustainable practices. This certification covers a significant portion of their primary steel production, indicating a strong focus on environmental and social responsibility.

The price action on the charts of JSW Steel suggests a short-term breakout trading opportunity. The price has been consolidating since the last 5 months and has confirmed a liquidity hunt on the lower boundary of the range with price moving back into the range. The chart marks the breakout entry level just above the current price and targeting first the upper boundary of the range and eventually targeting ₹1156 level.

Sudhanshu,

A Bhilai-based Finance professional who likes intellectual conversations and spending time in nature.