FIG Case Study #1 : JSWSTEEL

Short Note

Breakout Candidate – Stock near weekly resistance zones and attempting a breakout.


Candlestick Analysis



Rising Wedge Formation – Stock making higher highs and lower lows ( A,B confirm this behavior ). Last candle (D) might be the breakout candle. Need to confirm the breakout on the next trading day [ 22 April 19 ].

Positional Traders can take long positions as long as C level is maintained.

MP Analysis


As per Market Profile, 285 level seems to be a crucial support zone.

VSA Analysis


The down-bars are characterized by low volumes, which denotes the stock holders are unfazed with decrease in the value of the stock.

OI Analysis


As per the OI Data, breakout above 300 can result in a huge short covering propelled by the Call writers.

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Signing off,


FIG Team

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