Pick up Jindal Steel near 600: Deepak Mohoni
It is an interesting stock in the sense that it has been sideways at the top of its entire range in its history for the last 2 years.
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| Updated: Deepak Mohoni, Director, trendwatchindia.com (Technical Check) in an interview with ET Now talks about Jindal Steel.
What is the call on Jindal Steel?
It is an interesting stock in the sense that it has been sideways at the top of its entire range in its history for the last 2 years. The breakout above 800 would be an interesting one because that could mean a fairly big mover after that very-very long consolidation. The lower side has been Rs 600. So picking it up somewhere near 600 would be perhaps good strategy while it is in the range. But given the market conditions, the odds would favour a breakout sooner or later.
What is the call on Jindal Steel?
It is an interesting stock in the sense that it has been sideways at the top of its entire range in its history for the last 2 years. The breakout above 800 would be an interesting one because that could mean a fairly big mover after that very-very long consolidation. The lower side has been Rs 600. So picking it up somewhere near 600 would be perhaps good strategy while it is in the range. But given the market conditions, the odds would favour a breakout sooner or later.
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