In the previous session, Indices moved lower for the second day in a row. Market had a corrective move with a negative bias throughout the day. The Nifty Index saw a flat opening in the morning session and gradually extended losses as the day progressed. The Index formed a strong Bearish candle on the chart and closed with a net loss of 147.15 points. The index slipped below its key support level of 16500. Hence a cautious view is advised for the day.

 Look at the below research report of ‘Stocks to Buy for –Wednesday, July 27, 2022’ before the market opens.

JSW Steel Ltd.

In the daily time frame, JSWSTEEL share prices are moving in a well channelized manner since long term. Stock prices are moving near the channel resistance line. A white bullish candle appeared on the daily chart. As shown on the chart stock comfortably closing above Parabolic SAR indicator from past few days which indicates short term bullishness. Also, the range of RSI also seen near 58 after the consolidation period which further confirms the bullish breakout.

In short, the trend for JSWSTEEL looks to be positive for now. We can expect it to reach a target of 630 levels based on our analysis. On the other side, the level of Parabolic SAR will act as key support for the stock.

Check More Analysis on JSWSTEEL at: JSW Steel Ltd.