Technical Evaluation JSW Infrastructure.

The stock $JSWINFRA previously saw a massive rally up to the 340-350 zone which was followed by a heavy long correction bringing the price down to the 240-250 area. The chart is showing a healthy recovery. The stock has built a solid base around the 240-250 zone and has started a short-term uptrend forming higher lows. The current price is near 283 and the structure looks positive. Resistance the next major hurdle is the 295-300 psychological zone. If the stock breaks and sustains above 300 with strong volume it will open the doors for a move towards 320 and eventually its previous highs. Support the immediate strong support on the downside is around 270. As long as it stays above this the structure remains bullish. If it breaks below 270 it might go back to retest the major base at 240-250. For short-term buyers this is a good entry point on dips close to 270 using a strict stop loss below that level to target a quick move toward the 295–300 zone. If you are already holding the stock it is best to stay invested as the trend has turned positive with solid buying volume support at lower levels. You can trail your stop loss to 270 to protect your capital.