In the previous session, the Nifty index opened a gap up but soon slipped into a negative territory. Post that the Nifty index gradually recovered all its losses. and made a high near 18149 level. The Index formed a Bullish Candle on the daily chart and closed with a net gain of 117 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Wednesday, December 28,2022’ before the market opens.

JSW Steel Ltd

In the last trading day, JSWSTEEL share prices formed a bullish candle on the chart and closed with a net gain of 4.47% On the daily chart. Stock rebounded from an important support level, which is 161.8% retracement level of Fibonacci series. The Relative Strength Index (RSI) on the daily chart is 63 and it is moving above previous high.

In short, JSWSTEEL looks to be at a support level with bullish up move expectations. Positions can be created around CMP levels, which can take prices towards 780 level. On the other side, the level of 717 will act as key support for the stock.

Check More Analysis on JSWSTEEL at: JSW Steel Ltd.