JSWENERGY : at ease support zoneJSW Energy Ltd. (JSWENERGY)
Key Levels and Zones :
Current Price: ₹625.80 (-₹10.70, -1.68%)
Support and Buying Zones:
Extended Retracement Zone: ₹596.60 - ₹619.60
Wave C (Primary) Completion Zone: ₹594 - ₹610
Liquidity Sweep Zone: ₹553 - ₹565
Targets:
First Swing Target: ₹747.00
Second Target Zone: ₹825 - ₹851
Stop Loss: ₹540.00 (on failure of Wave C and extended retracement zone)
Chart Analysis :
Wave Patterns: The daily chart shows Elliott Wave patterns (Waves A, B, and C).
Wave C Completion Zone: ₹594 to ₹610 suggests a potential bullish reversal.
Change of Character (ChOCH): A shift in market sentiment is observed, indicating a likely trend change.
Future Price Projections :
Bullish Scenario:
If Wave C completes successfully, the price may rally towards the first swing target at ₹747.00 and the second target zone between ₹825 and ₹851.
Bearish Scenario:
Failure to hold the Wave C support zone could result in a drop to the stop-loss level around ₹540.00.
Conclusion :
The daily chart of JSW Energy highlights critical support and resistance levels. Traders can monitor these zones for strategic entry and exit opportunities, ensuring a favorable risk-reward ratio.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your analysis or consult a financial advisor before making investment decisions.
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