JSW Steel Elliott Wave technical analysis
Function: Counter Trend (Minor Degree Grey).
Mode: Corrective.
Structure: Flat.
Position: Minute Wave ((c)) Navy.
Details: Minute Wave ((c)) is now progressing lower against 1075. It could terminate around 850-60 zone.
Invalidation point: 1075.
JSW Steel daily chart technical analysis and potential Elliott Wave counts
JSW STEEL daily chart is indicating a major top in place around 1075 mark, which is labelled as Minor Wave 5 of Intermediate Wave (5) Orange. Since then, a Minuette degree corrective drop is either complete or near to completion around 840-50 zone.
The stock terminated Intermediate Wave (4) Orange around 520 mark in May 2022. A five wave rally has unfolded since then at Minor degree labelled as 1 through 5, pushing prices through 11075 high in October 2024. It is worth noting that a larger degree flat could be unfolding at Minor degree against 1075 mark.
JSWSTEEL Elliott Wave technical analysis
Function: Counter Trend (Minor Degree Grey).
Mode: Corrective.
Structure: Flat.
Position: Minute Wave ((c)) Navy.
Details: Minute Wave ((c)) is now progressing lower against 1075. The sub waves suggest it is unfolding as an impulse and might have terminated Minuette Wave (iv) Orange around 930. It could terminate around 850-60 zone.
Invalidation point: 1075.
JSW Steel four-hour chart technical analysis and potential Elliott Wave counts
JSW STEEL 4H chart is highlighting the sub waves post 1075 high, Minor Wave 5 of (5) termination. Minuette (a)-(b)-(c) unfolded to carve terminate Wave ((a)) around 910 mark. Minute Wave ((b)) pushed through 1020 mark again sub dividing into three waves at Minuette degree.
Since then, Minute Wave ((c)) is progressing lower s an impulse. Potential target is seen towards the 850-60 zone before bulls could be back in control. Also note that 854 is previous Wave 4 termination as well.
Conclusion
JSW STEEL is progressing lower within Minute Wave ((c)) towards 850-60 zone against 1075 mark.
JSW Steel Indian Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD off highs, back to the 1.1050 area ahead of Fed Minutes
EUR/USD keeps its bullish stance well in place, adding to Tuesday's uptick and retesting the vicinity of the 1.1100 neighbourhood on the back of the intense sell-off in the Greenback, all amid steady concerns over the impact of the China-US trade war.
GBP/USD eases to daily lows near 1.2750, USD picks up pace
The recovery attempt in the US Dollar is now prompting GBP/USD to give away part of the earlier advance past 1.2800 the figure and recedes to the mid-1.2700s in a context still widely favourable to the risk complex.
Gold climbs further, retargets $3,100
Gold preserves its bullish momentum and approaches the $3,100 level per troy ounce on Wednesday, underpinned by the steady safe-haven demand in response to trade tensions between the US and China.
Fed Minutes to offer clues on rate cut outlook amid tariff uncertainty
The eagerly awaited minutes from the US Fed’s March 18-19 monetary policy meeting are set for release on Wednesday at 18:00 GMT. During the gathering, policymakers agreed to keep the Fed Funds Target Range (FFTR) unchanged at 4.25%-4.50%.
Tariff rollercoaster continues as China slapped with 104% levies
The reaction in currencies has not been as predictable. The clear winners so far remain the safe-haven Japanese yen and Swiss franc, no surprises there, while the euro has also emerged as a quasi-safe-haven given its high liquid status.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.