Jindal Steel & Power, GAIL, Union Bank: Trading Strategies for these buzzing stocks

Jindal Steel & Power, GAIL, Union Bank: Trading Strategies for these buzzing stocks

GAIL (India) appears poised for a bullish trend, with a channel breakout. The stock is trading above its long- and short-term moving averages.

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 Jindal Steel has recently experienced a robust breakout on the daily chart, accompanied by a significant surge in trading volumes. Jindal Steel has recently experienced a robust breakout on the daily chart, accompanied by a significant surge in trading volumes.
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Pawan Kumar Nahar
  • Dec 12, 2023,
  • Updated Dec 12, 2023 7:47 AM IST

Domestic benchmark indices managed to settle slightly higher on Monday after giving up most intraday gains. The BSE Sensex, which scaled the 70,000-mark for the first time on Monday, added 102.93 points, or 0.15 per cent, to settle at 69,928.53. The NSE Nifty added 27.70 points, or 0.13 per cent, to end the day at 20,997.10. Jindal Steel has recently seen a robust breakout on the daily chart, accompanied by a significant surge in trading volumes. The stock is currently trading above its short-term moving averages, signifying a positive trend. The momentum indicator, RSI, is above the 60 level, confirming the presence of bullish momentum in the stock. A lower-end support is identified at Rs 680, providing a cushion for the bulls. The potential upside targets for Jindal Steel are set at Rs 770 and Rs 800.Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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Also read: BHEL, PNB among likely MSCI inclusion candidates; Nykaa, Union Bank stocks in focus 

Also read: Stock recommendations by market analysts for December 12, 2023: Union Bank, West Coast Paper, GAIL and Jindal Steel

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Domestic benchmark indices managed to settle slightly higher on Monday after giving up most intraday gains. The BSE Sensex, which scaled the 70,000-mark for the first time on Monday, added 102.93 points, or 0.15 per cent, to settle at 69,928.53. The NSE Nifty added 27.70 points, or 0.13 per cent, to end the day at 20,997.10. Jindal Steel has recently seen a robust breakout on the daily chart, accompanied by a significant surge in trading volumes. The stock is currently trading above its short-term moving averages, signifying a positive trend. The momentum indicator, RSI, is above the 60 level, confirming the presence of bullish momentum in the stock. A lower-end support is identified at Rs 680, providing a cushion for the bulls. The potential upside targets for Jindal Steel are set at Rs 770 and Rs 800.Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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Also read: BHEL, PNB among likely MSCI inclusion candidates; Nykaa, Union Bank stocks in focus 

Also read: Stock recommendations by market analysts for December 12, 2023: Union Bank, West Coast Paper, GAIL and Jindal Steel

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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