Sell Jindal Steel & Power, target Rs 155: Hadrien Mendonca

The stock has also broken down from an inverse Flag pattern on the daily chart which further accentuates our bearish stance on the stock, says Hadrien Mendonca of IIFL.

Moneycontrol Contributor

October 12, 2018 / 11:13 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Hadrien Mendonca

Jindal Steel & Power has broken down from an inverse Cup and Handle pattern on the weekly chart and has also sustained below the breakdown zone. It has also entered into a lower top lower bottom structure which is a negative development.

The stock has also broken down from an inverse Flag pattern on the daily chart which further accentuates our bearish stance on the stock.

Disclaimer: The author is a Senior Technical Analyst, IIFL. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Moneycontrol Contributor

first published: Oct 12, 2018 11:13 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347