Sell Jindal Steel & Power with target Rs 142: Dinesh Rohira

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Dinesh Rohira

Jindal Steel & Power remained in a consolidation phase in last six-month falling from a higher level of Rs 240 towards a low of Rs 160.

Although it marginally rebounded towards Rs 190 level it failed to sustain the momentum to further form a low at Rs 140, and subsequently, it fell below its 200-days moving an average of Rs 189 on a closing basis.

The scrip currently trades below all moving averages that indicate ongoing selling pressure. The scrip formed a solid bearish candlestick pattern on the weekly chart coupled with long bearish candlestick pattern on the daily price chart.

The momentum indicator continued to outline weak trend with its weekly RSI at 36 that signals downward divergence in price coupled with MACD trading below its signal line on the weekly chart. We have a sell recommendation for Jindal Steel.

Disclaimer: 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.