JSWENERGY : at ease support zone

JSW Energy Ltd. (JSWENERGY)
Key Levels and Zones:

1. []Current Price: ₹625.80 (-₹10.70, -1.68%)
   []Support and Buying Zones:
   
   Extended Retracement Zone: ₹596.60 - ₹619.60
   Wave C (Primary) Completion Zone: ₹594 - ₹610
   []Liquidity Sweep Zone: ₹553 - ₹565
   []Targets:
   First Swing Target: ₹747.00
   Second Target Zone: ₹825 - ₹851
   
2. Stop Loss: ₹540.00 (on failure of Wave C and extended retracement zone)
   

Chart Analysis:

1. Wave Patterns: The daily chart shows Elliott Wave patterns (Waves A, B, and C).
   
   Wave C Completion Zone: ₹594 to ₹610 suggests a potential bullish reversal.
   
2. Change of Character (ChOCH): A shift in market sentiment is observed, indicating a likely trend change.
   

Future Price Projections:

Bullish Scenario:

If Wave C completes successfully, the price may rally towards the first swing target at ₹747.00 and the second target zone between ₹825 and ₹851.
Bearish Scenario:

Failure to hold the Wave C support zone could result in a drop to the stop-loss level around ₹540.00.
Conclusion:

The daily chart of JSW Energy highlights critical support and resistance levels. Traders can monitor these zones for strategic entry and exit opportunities, ensuring a favorable risk-reward ratio.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your analysis or consult a financial advisor before making investment decisions.

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