JSW Steel concluded the previous week with a decline of 4.25% in its share price. From a technical standpoint, the immediate support level for JSW Steel’s share price is anticipated at 801.77, while the immediate resistance level is likely to be encountered at 837.27.
Should the JSW Steel share price close below the immediate support of 801.77, it could signal a significant downward movement. In such a scenario, a more substantial support level is anticipated at 782.88 throughout the week.
Conversely, on the positive side, the immediate resistance level is set at 837.27. If the share price manages to surpass and close above 837.27, it may trigger a notable upward breakout. A major resistance point for JSW Steel’s share price is projected at 853.88 for the week.
The expected trading range for JSW Steel’s share price during this week is anticipated to fluctuate between 766.27 on the downside and 872.77 on the upside.
Previous Week’s High: 835 Previous Week’s Low: 799.5 Previous Week’s Range: 35.5 Points
Support and Resistance Levels for JSW Steel’s Share Price (August 14, 2023 – August 18, 2023):
| Level | Type | Value |
|---|---|---|
| Resistance 3 | 872.77 | |
| Resistance 2 | 853.88 | |
| Resistance 1 | 837.27 | |
| Support 1 | 801.77 | |
| Support 2 | 782.88 | |
| Support 3 | 766.27 |
Stay informed about JSW Steel’s share price performance for the upcoming week, as we analyze potential support and resistance levels, providing valuable insights for your trading decisions.
Disclaimer: Please be aware that investment decisions should be made after conducting thorough research and seeking advice from a qualified financial expert. The information provided here is purely for educational purposes and should not be considered as financial advice or a recommendation to buy or sell any securities.