JSL - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.5
| Stock Code | JSL | Market Cap | 60,244 Cr. | Current Price | 731 ₹ | High / Low | 884 ₹ |
| Stock P/E | 21.8 | Book Value | 210 ₹ | Dividend Yield | 0.41 % | ROCE | 19.9 % |
| ROE | 17.3 % | Face Value | 2.00 ₹ | DMA 50 | 767 ₹ | DMA 200 | 749 ₹ |
| Chg in FII Hold | 0.11 % | Chg in DII Hold | 0.15 % | PAT Qtr | 685 Cr. | PAT Prev Qtr | 644 Cr. |
| RSI | 45.2 | MACD | -16.0 | Volume | 6,03,821 | Avg Vol 1Wk | 9,37,804 |
| Low price | 497 ₹ | High price | 884 ₹ | PEG Ratio | -8.95 | Debt to equity | 0.26 |
| 52w Index | 60.5 % | Qtr Profit Var | 10.7 % | EPS | 34.9 ₹ | Industry PE | 20.1 |
📉 Chart & Trend: JSL is trading below both its 50 DMA (₹767) and 200 DMA (₹749), with the current price at ₹731. This indicates short-term weakness and medium-term consolidation near support.
📊 RSI: At 45.2, RSI is weak, suggesting limited upside potential and mild bearish bias.
📉 MACD: Negative at -16.0, confirming bearish momentum and lack of reversal signals.
📈 Bollinger Bands: Price is mid-to-lower range, reflecting weakness and potential downside risk if support breaks.
📊 Volume: Current volume (6.0 Lakh) is lower than average weekly volume (9.3 Lakh), showing reduced participation and weak buying interest.
📍 Support & Resistance:
- Strong support: ₹720–₹725
- Immediate resistance: ₹749 (200 DMA)
- Major resistance: ₹767 (50 DMA)
Optimal entry zone: ₹720–₹735 (near support).
Exit zone: ₹750–₹770 (resistance cluster).
🔎 Trend Status: The stock is consolidating with bearish bias. A reversal requires sustained close above ₹749–₹767.
Positive
- ROCE (19.9%) and ROE (17.3%) indicate strong capital efficiency.
- Low debt-to-equity (0.26) ensures financial stability.
- EPS at ₹34.9 supports earnings visibility.
- Quarterly PAT growth (₹685 Cr vs ₹644 Cr) shows earnings momentum.
- 52-week index performance at 60.5% reflects resilience.
Limitation
- Trading below both 50 DMA and 200 DMA signals weakness.
- RSI and MACD confirm bearish momentum.
- PEG ratio of -8.95 reflects poor earnings growth visibility.
- Volume participation is lower than average, limiting breakout strength.
Company Negative News
- Quarterly profit variation of 10.7% is modest compared to sector peers.
- Stock corrected from its 52-week high of ₹884, showing resistance pressure.
Company Positive News
- FII holding increased by 0.11% and DII holding by 0.15%, showing institutional confidence.
- Strong ROCE and ROE highlight efficient capital utilization.
Industry
- Industry PE at 20.1 vs JSL’s PE of 21.8 shows slight premium valuation.
- Steel sector outlook remains positive with infrastructure demand and global recovery trends.
Conclusion
⚖️ JSL is consolidating with bearish bias near support. Short-term traders may consider entry around ₹720–₹735 with exits near ₹750–₹770. Long-term investors can accumulate cautiously given strong fundamentals, but confirmation above ₹749–₹767 is needed for a sustained uptrend.
Would you like me to extend this into a steel sector basket overlay (JSL vs peers like Tata Steel, JSW Steel, SAIL) so you can benchmark its setup against industry leaders for stronger confirmation signals?