Stock to buy today: JSW Steel (₹976.30) – BUY

The short-term outlook for JSW Steel is bullish. The stock had begun the week on a positive note. The share price has risen by 2.5 per cent on Monday when the broader markets continued to struggle. The stock has been moving up very well since mid-January. Support is in the ₹950-940 region. The 200-Day Moving Average is also poised in this region which makes it a strong support zone. So, a fall below ₹940 is less likely.  JSW Steel share price can rise to ₹1,020 in the coming weeks. Go long now at ₹976. Accumulate on dips at ₹956. Keep the stop-loss at ₹938. Trail the stop-loss up to ₹985 as soon as the stock goes up to ₹995. Move the stop-loss further up to ₹1,000 when the price touches ₹1,010. Exit the stocks at ₹1,020.

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

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