Based on news intelligence, world brokerage firm CLSA stipulated that steel prices will not remain under pressure and there is no risk to earnings. JSW Steel has posted Rs 1745 million of profit in last quarter and hence it is worth to buy this stock with the target prices of Rs 395.
Following is the Technical trend line of JSW Steel for last three months. As you can see in following charts, there are positions marked for Buy price orders. This stock has shows good trend for Intra-day and short buyers.
JSW steel has been trending up and down in the ballpark of 285-290. We can clearly see total 8 positions where one could have made the profit, had they been bought at given prices where chart is circled. Nevertheless, last closing stock price was 291 and it is still a good buy.