JSWSTEEL

JSWSTEEL Maintains Uptrend, Breakout Signals Further Upside

JSW Steel – Daily Chart Technical Analysis JSW Steel closed strongly at ₹1101.40, hitting a day’s high of ₹1112.00 after opening and marking its low at ₹1080.10, reflecting robust bullish momentum. The stock gave a clear breakout above its recent consolidation zone, supported by price trading well above its key 20, 50, 100, and 200-day moving averages, confirming an ongoing uptrend. Technical indicators also remain positive — Parabolic SAR is placed below price (buy signal), RSI (14) at 66 shows bullish strength with more upside potential, and MACD is trending positive. Overall, as long as the stock holds above the ₹1070–1080 support zone, it remains in a strong bullish trend with upside potential towards ₹1135–1150, while any dip to support levels can be considered a buying opportunity with a stop-loss below ₹1050. Micro (Short-Term): The breakout signals renewed buying interest and short-term strength. Traders can look for momentum continuation while monitoring for pullbacks to the ₹1070–1080 level for opportunistic entries. Macro (Medium to Long-Term): India’s steel demand shows resilience, with expectations of double-digit growth in H2 FY26, driven by infrastructure expansion and GST tailwinds. Morgan Stanley has upgraded JSW Steel to “Overweight”, citing expanding steelsteel spreads, robust domestic demand, and benefits from China's supply controls. India’s steelmakers are a standout amid global stagnation, with output rising 33% between 2019–24, underscoring strong fundamentals. JSW Steel production surged 17% YoY in August, demonstrating operational strength.