Analysis:
- Stock has made 52 week high of 447 (16th Jan 2013) & 52 week low of 181.55 (2nd August 2013)
- Stock is a forming triangle formation and if closing above 265 would be fresh breakout.
- Momentum oscillators like RSI, stochastic and ADX suggest buy signal.
- Stock is above its 20 days SMA, 50 days EMA suggest short term trend is up.
Strategy: - Buy Jindal Steel & Power 260-61 possible Target- 270 - 274 with stop below 256 on closing basis.
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