JINDAL SAW

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Can I buy Jindal Saw at CMP?

- Ash­win

AVOID JINDAL SAW FOR NOW AND EN­TER ABOVE RS 123 ON A CLOS­ING BA­SIS

Jindal Saw is cur­rently trad­ing at Rs 115.30. Its 52-week high/low stand at Rs 128/Rs 46.55 made on November 1, 2017 and November 9, 2016, re­spec­tively. The stock reached its 52-week high with grad­ual higher tops and higher bot­toms. How­ever, re­cently the stock has fallen be­low its sup­port at Rs 114 level af­ter hit­ting al­most a dou­ble top at the 52-week high level. Hence, the stock may see some more down­side in the com­ing ses­sions. How­ever, con­sid­er­ing the weekly time frame, the stock has just given a round­ing bot­tom break­out and is in a pull­back mode. One can en­ter the stock at Rs 123 level on a clos­ing ba­sis.

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