![JSW Metal Elliott Wave technical evaluation [Video]](https://i3.wp.com/editorial.fxstreet.com/miscelaneous/p-638670926136778987.png?w=860&resize=860,0&ssl=1 "JSW Metal Elliott Wave technical evaluation [Video]")
JSW Metal – Jswsteel (1D chart) Elliott Wave technical evaluation
Perform: Counter Pattern (Minor Diploma Gray).
Mode: Corrective.
Construction: Potential impulse inside bigger diploma correction.
Place: Minute Diploma remains to be unfolding.
Particulars: The proposed wave construction has modified because the inventory breaks beneath 960 mark. Minor Wave 4 Gray has additionally been adjusted with Wave 5 probably full round 1075. Solely a push by way of 1075 will convey bulls again in management.
Invalidation level: 1075.
JSW STEEL Each day Chart Technical Evaluation and potential Elliott Wave Counts:
JSW STEEL each day chart is indicating a bigger diploma development terminating at 1075 excessive. The Intermediate Wave (5) Orange is full and inventory costs have already turned decrease in the direction of 850 mark at a Minor diploma. The inventory is already buying and selling round 932 on the time of writing.
JSW STEEL had terminated Intermediate Wave (4) Orange round 520 mark in Could 2022. The non secular rally after than might be clearly sub divided into 5 waves labelled Minor Wave 1 by way of 5 on the each day chart. Not labelled on the each day chart but however a bigger diploma correction is underway in opposition to 1075
JSW Metal – Jswsteel (4H chart) Elliott Wave technical evaluation
Perform: Counter Pattern (Minor Diploma Gray).
Mode: Corrective.
Construction: Potential impulse inside bigger diploma correction.
Place: Minute Diploma remains to be unfolding.
Particulars: The proposed wave construction has modified because the inventory breaks beneath 960 mark. Minor Wave 4 Gray has additionally been adjusted with Wave 5 probably full round 1075. Solely a push by way of 1075 will convey bulls again in management. Additionally current a possible corrective drop A-B-C on the chart, the place Wave C chilly be progressing decrease.
Invalidation level: 1075
JSW STEEL 4H Chart Technical Evaluation and potential Elliott Wave Counts:
JSW STEEL 4H chart signifies adjusted wave counts since Minor Wave 4 terminated round 855 mark in August 2024. The drop since 1075 excessive may very well be a Minor diploma correction A-B-C or extra advanced sample. In the mean time bears are in management and seeking to drag in the direction of the 850 mark. Will change the proposed depend if wanted in our subsequent replace.
Conclusion:
JSW STEEL is producing a corrective drop at Minor Diploma in opposition to 1075 excessive.
Elliott Wave analyst: Harsh Japee.
