Jindal Stainless Ltd – Daily Technical View
The stock has witnessed a sharp corrective move after a strong rally, followed by a bounce from the lower Bollinger Band, indicating short-term relief buying.
🔍 Technical Observations:
Price is currently below 20 EMA, showing near-term weakness
Lower Bollinger Band acted as support, from where a pullback is visible
RSI cooled off from overbought levels and is attempting to stabilize
🔑 Key Levels:
Immediate Support: ₹750 – ₹740
Resistance Zone: ₹820 – ₹860
📈 Outlook:
If the stock holds above ₹750, short-term consolidation with a positive bias is possible.
Sustained upside momentum will require a decisive close above ₹820.
⚠️ For educational purposes only.
— AALGO BREATHS