Jindal Steel can have some short-term upward momentum

Jindal Steel is in a descending channel and had a falling wedge formation at the bottom third touch which broke to the upside. After the break of the falling wedge, there was a bull flag correction formation which broke to the upside on Monday. This can indicate a further trend in an upward direction. Traders are advised to go long only after 144.50 levels are breached as this is the previous high. Levels of 151-153 can be potential targets.

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We have breached the 144.50 levels

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