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Sell Jindal Steel & Power, target Rs 155: Hadrien Mendonca

12 October, 2018 5:43 AM
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Sell Jindal Steel & Power, target Rs 155: Hadrien Mendonca

The stock has also broken down from an inverse Flag pattern on the daily chart which further accentuates our bearish stance on the stock, says Hadrien Mendonca of IIFL.

Jindal Steel & Power has broken down from an inverse Cup and Handle pattern on the weekly chart and has also sustained below the breakdown zone. It has also entered into a lower top lower bottom structure which is a negative development.

The stock has also broken down from an inverse Flag pattern on the daily chart which further accentuates our bearish stance on the stock.

Also read: Sell Hindustan Unilever, target Rs 1424: Shitij Gandhi

Source: moneycontrol.com

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