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JSW STEEL – Elliott Wave technical analysis Function: Bullish Trend. Mode: Impulsive. Structure: Navy Blue Wave 1. Position: Gray Wave 3. Direction next lower degrees: Navy Blue Wave 2. Wave cancel invalid level: 879.77. The Elliott Wave analysis for JSW Steel’s daily chart reveals a strongly bullish trend, marking the beginning of a new impulsive upward sequence. This wave structure is led by navy blue wave 1, which forms part of a broader gray wave 3 progression. Market analysts confirm that gray wave 2’s correction phase has concluded, with the stock now entering the early stages of navy blue wave 1 of 3, which typically signifies the start of a powerful impulsive rally. The invalidation level is set at 879.77—a break below this level would invalidate the current bullish outlook. The daily chart setup gives traders a clear view of the emerging trend, within the context of the larger wave structure. Once navy blue wave 1 completes, a short-term correction in navy blue wave 2 is expected before the trend resumes upward into navy blue wave 3, often the most dynamic segment of an impulse wave. This wave scenario provides both an immediate trading opportunity and a strategic setup for participating in the potential long-term rally. Traders should monitor for impulsive characteristics such as strong price moves, rising momentum, and higher trading volume. Maintaining long positions aligns with the dominant trend, though risk control around the 879.77 level is essential. JSW STEEL – Elliott Wave technical analysis Function: Bullish Trend. Mode: Impulsive. Structure: Navy Blue Wave 1. Position: Gray Wave 3. Direction next lower degrees: Navy Blue Wave 2. Wave cancel invalid level: 879.77. The Elliott Wave analysis for JSW Steel’s weekly chart presents a strong bullish outlook, pointing to a significant upward trend currently forming. The key structure is navy blue wave 1, which unfolds as part of the broader gray wave 3 progression. Analysts confirm that gray wave 2’s corrective phase has ended, with the stock now entering navy blue wave 1 of 3, which typically signals the start of a dynamic and extended bullish…

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Filed under: News - @ March 26, 2025 9:26 am