Technical Report : :JSWSTEEL:: 15.04.2008 ::LONG TERM BUY

[K.Karthik Raja]

JSW Steel Limited : CMP 738
Segment: EQ
NSE Code: JSWSTEEL
Paidup Value 10
Face Value: 10
Market Lot: 1
ISIN Code : INE019A01020
Listing Date : 23-MAR-2005

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JSWSTEEL may take reverse trend after a 50% fall on the stock price
from
1389 to 765 levels in last few trading sessions. The
14-day RSI is indicating the stock to be in
the 'oversold' territory there by negating
any significant sell-off in near term.
Investors are advised to accumulate the
stock in the range of 650-750 levels for an
Long-term target of 771/814/860.JSWSTEEL has the Strong support @
650-628 levels based
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Today Stock Movement
CMP : 738
High: 740.10
Low: 695.00
Open: 724.85
Value: 97.26 Cr.
Volume: 1352192
10-day Avg. Vol: 1085638
Circuit Filters For Next Day: No Circuit Filters


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STOCK PERFORMANCE


52-Week Range (Low - High) : 499.00 - 1389.00
-5.84% in 1 Week
-23.82% in 1 Month
22.90% in 1 Year


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Moving Averages for JSWSTEEL


SMA-7: 741.52 SMA-13: 776.30 SMA-26: 844.41 SMA-50: 968.58
SMA-200: 902.33
EMA-12: 770.55 EMA-26: 841.20 EMA-50: 918.69 EMA-200: 889.50
MACD: -70.65


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Volume (last/ 5 day average): 1352000 / 911000
- 5 day RSI: 14 - oversold.
- 14 day RSI: 27 - no indication.
- Williams % R(14): 12 (summation factor 100)
- Average Directional Index ADX: 56
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F & O UPDATE As on 11th April 2008
Current month futures for JSWSTEEL closed at 717.95 (Rs. 2.40
PREMIUM)
with a turnover of Rs. 74.67 Crores.Adds 64075 shares(2.57%) in open
interest pushing the open interest to 2556125
shares.
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Commentary For Trading/Invesment:JSWSTEEL
2 day swing: Buy above 740
5 day swing: Buy above 779
20 day swing: Buy above 943.
LONG TERM : Buy/Accumulate : 650-750 levels for an Long-term target
of 771/814/860 SL 650-628
All long positions in the stocks should be protected with a stop loss
placed below mentioned levels on a closing basis.


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Disclaimer
The suggestions made herein are for information purposes and are not
recommendations to any person to buy or sell any securities. The
information is derived from various sources that are deemed to be
reliable but its accuracy and completeness are not guaranteed.. The
company does not accept any liability for the use of this column.
Readers of this column who buy or sell securities based on the
information in this column are solely responsible for their actions.
And we won't be liable or responsible for any legal or financial
losses
made by anyone