Buy JSW STEEL FEBRUARY Future at Rs 282.50
Stop loss: Rs 276
Target: Rs 295
-- Long build up in JSW Steel Futures’ yesterday, where we have seen a rise in Open Interest with a price rise of 3.50%.
-- After forming a double bottom at 257 odd levels earlier this week, stock price reversed northward to close above its 5 and 20 day SMA with higher volumes.
-- Momentum Indicators and Oscillators like RSI and MACD are showing strength in the stock.
-- Metal as a sector seems to be bottomed out and looking good for the short term.