BUSINESS: As of 1:01 pm today, September 27, JSW Steel shares are trading at Rs 1001.65, down -0.35% from its previous close. Sensex – down 0.26% to Rs 85,615.63. On the day, the stock price hit a high of 1,018.9 yen and a low of 1,001.45 yen. Technically, the stock is above short-term moving averages of 5, 10 and 20 days and long-term moving averages of 50, 100 and 300 days. The SMA value of the stock is:
Daily Simple Moving Average
5,978.07
10,966.16
20,951.46
50,926.29
100,916.40
300,874.99
Classic Pivot Level analysis shows that the major resistance levels of the stock in the daily time frame are ₹1017.42, ₹1028.93, ₹1049.92 and major support levels are ₹984.92, ₹963.93 and ₹952.42. Trading volume of JSW Steel on NSE and BSE till 1 pm today increased by 43.48% compared to the previous session. Trading volume and price are important indicators to check the trends. A positive price movement on high volume indicates continued bullishness, while a negative price movement on high volume may indicate further price decline.
Overall, the stock is currently in a strong bullish momentum as per Mint’s technical analysis.
From a fundamental perspective, the company’s ROE is 12.29%. The current price-to-earnings ratio is 33.49.
The stock is expected to rise by 6.45% in 1 year and the target price is Rs 937.00.
As per June quarter filings, the company has 44.81% promoter shares, 6.86% MF shares and 10.51% FII shares.
