Sumary of Trade Spotlight: What should investors do with JSW Steel, JSPL & Tata Steel?:
- Indian market rose for the third day in a row on April 8 following positive trend in global markets and dovish monetary policy from the Reserve Bank of India (RBI)..
- However, on a short-term time frame, momentum indicators indicate that the stock is in an overbought zone and there are high chances of a quick short-term price correction if the stock starts to trade below Rs 565..
- On the flip side, dismissal of Rs 565 on the downside could possibly trigger a quick short-term correction up to Rs 540 The stock has rallied over 8 percent on April 8….