#steel stocks lack upward momentum
This consolidation can result into either an up or down move
#JSWSTEEL has seen RSI dipping below 50 & MACD below 0 after long bearish divergences
Stock got resisted at 775 twice
If it is able to break below 645 & sustain,it may move towards 510
![](https://pbs.twimg.com/media/E-rurxVVkAQ3UiJ.png)
More from Techno Prince
#LLTS Weekly chart shows the stock is recovering from 61.8% fibonacci pullback of last major rise
— Techno Prince (@Trader_souradep) July 24, 2022
Daily chart shows a a rounding bottom , daily RSI bullish
If it sustains above 3500 it can move towards 3900+ levels and later towards 200 DMA 4480#Nifty pic.twitter.com/6ebtfLMJZd
More from Jswsteel
You May Also Like
These setups I found from the following 4 accounts:
1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4. @DillikiBiili
Share for the benefit of everyone.
Here are the setups from @Pathik_Trader Sir first.
1. Open Drive (Intraday Setup explained)
#OpenDrive#intradaySetup
— Pathik (@Pathik_Trader) April 16, 2019
Sharing one high probability trending setup for intraday.
Few conditions needs to be met
1. Opening should be above/below previous day high/low for buy/sell setup.
2. Open=low (for buy)
Open=high (for sell)
(1/n)
Bactesting results of Open Drive
Already explained strategy of #opendrive
— Pathik (@Pathik_Trader) May 27, 2020
Backtested results in 30 stocks and nifty, banknifty.
Success ratio : approx 40-45%
RR average 1:2
Entry as per strategy
Stoploss = Open level
Exit 3:15 PM Or SL
39 months 14 months -ve, 25 +ve
Yearly all 4 years +ve performance. pic.twitter.com/nGqhzMKGVy
2. Two Price Action setups to get good long side trade for intraday.
1. PDC Acts as Support
2. PDH Acts as
So today we will discuss two more price action setups to get good long side trade for intraday.
— Pathik (@Pathik_Trader) June 20, 2020
1. PDC Acts as Support
2. PDH Acts as Support
Example of PDC/PDH Setup given
#nifty
— Pathik (@Pathik_Trader) June 23, 2020
This is how it created long setup by taking support at PDC.
hopefully shared setup on last weekend helped. pic.twitter.com/2mduSUpMn5