STOCK IN FOCUS : JINDALSTEL

Jindal Steel (JINDALSTEL) is a stock to watch for the coming week, currently trading at ₹974. The stock is showing bullish momentum with the Relative Strength Index (RSI) holding above 50. It has taken strong support at the 20-day Exponential Moving Average (EMA), which is also at ₹974, indicating a possible base formation. A noticeable increase in trading volumes is expected in the upcoming week, which could support a potential upward move. From a fundamental perspective, the stock appears undervalued with a Price to Intrinsic Value ratio of 0.626. Additionally, the company has shown a steady increase in its total assets over the last three years, signaling strong and consistent growth.