Below Rs 1000, JSW Steel may test Rs 960: Chandan Taparia

Chandan Taparia of Anand Rathi told CNBC-TV18, "JSW Steel is making lower-top, lower-bottom formation, not recovering even after the market movement. The structure is clearly indicating that stock is in a bear grip. Volume-Weighted Average (VWA) is comparatively higher and that also indicates that the stock is totally in the bear group."

"We will suggest that if stock sustains below Rs 1,000 then sell that counter with stoploss of Rs 1,025 for the downside target of Rs 960," he said.

Disclosure: Analyst has no personal holdings.