JSW Steel – Double top

With Metal Index looking Bearish, selling pressure seems to be mounting on JSW steel JSWSTEEL as it formed an extremely Bearish candle on Friday.

I can see that it has formed a Double Top like structure around 344 levels and is showing Negative Divergence.

Looks like the stock is heading towards 307 levels.

Good opportunity to go short with a small stop loss.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.