Jindal Steel Is Looking Bearish. But "Conditions Apply"

Jindal Steel & Power Limited (NSE: JINDALSTEL) is giving solid signs of Loss Of Buyer's Momentum as per TTC Breakout Formation. Right Now it is at a Critical Make-Or-Break Zone around 153. If it breaks decisively below this zone (on 1-hour closing basis), we may see sellers gaining control over the buyers.

For Short-term targets, Trader should eye on 148 Zone. Then 141 and 133 are the next support. For Swing Traders, 121 Zone is Very Critical. Below which we can see a good amount of selling.

Tata Steel Limited (formerly Tata Iron and Steel Company Limited (TISCO)) is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group.