The stock recently witnessed a breakout from ascending triangle pattern on the daily charts which catapulted the stock above 300 levels. However, during this time it witnessed strong volumes on a few occasions suggesting renewed buying interest by the market participants. Gaurav Bissa, VP, InCred Equities said, “JSW energy was seen trading in a 6-month consolidation phase. On the higher end, a substantial hurdle of a sloping trend line lies around Rs 320-330 odd levels in the comparable period.”ĪLSO READ: Multibagger defence stock zoomed 450% from 52-week low to 52-week high in a year, more upside ahead? As far as levels are concerned, the 200 SMA placed around the Rs 270-275 zone is likely to act as strong support. At present, the counter is hovering above its major EMAs on the daily chart and has lately gained traction in trading volumes, adding to a bullish quotient. Analyst - Technical & Derivative Research, Angel One Ltd said, “JSW Energy has seen an upsurge of over 25 percent in the current financial year and has decisively rebounded from the ongoing corrective phase on the broader time frame.
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