 "stocks, sell, share")
SELL JINDALSTEL | TARGET: Rs 174 | STOP LOSS: Rs 191
The stock is facing resistance of its downward sloping trend line on the daily chart. It is also making a lower top and lower bottom formation, which hints that the stock may test its previous swing low of 160 levels in the short term. The immediate hurdle of 21-DMA is placed at 188 levels. Momentum indicator RSI has formed a double top formation on the weekly scale which is a negative sign and MACD oscillators have also provided a sell crossover which hints of further negative momentum in the counter.
SELL
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