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Trade Spotlight: What should investors do with JSW Steel, SAIL & Tata Steel?

Stocks that were in focus include JSW Steel which closed with gains of nearly 10 percent, SAIL that rose over 8 percent, and Tata Steel which touched a fresh 52-week high on Thursday.

April 30, 2021 / 07:46 AM IST
 
 
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Indian market lost some steam after both Sensex and Nifty reclaimed crucial psychological levels on April monthly expiry. The Sensex failed to hold on to 50,000 while the Nifty50 closed below 15000 on Thursday.

Sectorally, buying was seen in metals, energy, oil & gas, and healthcare stocks, while profit-booking was seen in auto, telecom, consumer discretionary, and capital goods.

Stocks that were in focus include JSW Steel which closed with gains of nearly 10 percent, SAIL that rose over 8 percent, and Tata Steel which touched a fresh 52-week high on Thursday.




For the trend following traders, Rs 980 and 960 would be the key levels to watch, the overall chart structure suggests if the stock sustains above the same, breakout continuation texture is likely to continue up to Rs 1075-1100.