JSWSTEEL

Fundamental View on JSWSTEEL- JSW Steel, part of the JSW Group, is India’s second-largest private steel producer and a major player in the global steel industry with operations across India, the USA, and Europe. Technical View on JSWSTEEL- As seen on the daily chart of JSW Steel, the stock is trading firmly near the strong support zone of its 14-day and 55-day EMA. Since the beginning of this week, the stock has been consistently holding its support levels, indicating strength in the short term. Technical indicators like MACD, RSI, and Parabolic SAR are all positioned in the positive zone, further supporting the bullish sentiment. On Monday, the stock opened at 1005, made a low of 997, and closed at 983.60. Yesterday, it opened at 1006, made a low of 1001.40, and closed at 1007. Today, the stock opened at 1008, made a low at the same level, and is currently trading around 1015, showing signs of strength and a potential continuation of the uptrend. The stock has already gone through a correction phase and, in the long term, continues to hold above its 200-day EMA, which is around the 970 mark. If the stock manages to sustain above the 990 level in the short term, it is likely to witness further upside towards 1050–1055 levels before the July expiry.