Swing trading strategy | Analysis of Jindal Steel and Power

Poll and flag pattern set up and immediate thought striked my mind "wow easy 100% upside possible" expectations can really ruin our Swing trading strategy within no time.

Swing trading completly stress free strategy to participate in stock market. A very wonderful opportunity in this stock came to limelight. It was just a normal glance on the stocks which are in the radar. I spotted the stock few days before and it really excited me.

Swing trading strategy | Analsis of Jindal stell and power
Jindal Steel and Power Weekly Chart Showing Poll and Flag Pattern

Basic data for swing trading strategy

13 Mar 2022

Jindal steel and power came to my radar when the stock price was 479 on 13 mar 2022.I decided to wait untill it retest the breakout level.The stock came to buy zone on 15 mar 2022. At an avg price of 453.08 i entered into the trade.

Before i enter the trade i have to decide one more things which is Exit plan. To do that lets get into daily time frame.

Swing trading strategy on daily time frame
Jindal Steel and Power analysis on daily time frame

If we observe the chart after a consolidation phase for a period of 6 to 9 months. Jindal steel and power gave the break out on 13 Mar 2022. On the very next day market saw a downfall and so does our stock fell. This was the opportunity we all being waiting for.

On 15 Mar 2022 when stock came close to 450 levels i entered. This price level is so favouable for us. One might ask me how come its favourable. So to answer that lets see were our stop loss stands.

Stop loss planning

If you see the chart closely before giving breakout on 13 mar 2022 Jindal Steel and Power consolidated near resistance level for few days. Just below the consolidation zone which is at the low of Zone is our stop loss (423). As we were able to enter into trade very close to stop loss, this is the reason i called it as “favourable trade”

In the above picture i have drawn the red line showing the stop loss zone. So with all the above input collected from the chart i am very confident on this script.

Exit Plan

When can we exit this trade ? This is also very crusial in swing trading strategy. If this trade goes against our direction ou stop loss at 420 will throw us out of trade. In case it moves in our direction what shall we do ?

If we see the Weekly chart we can see a clear Flag and poll Pattern, generally length of the poll can be considered to measure the target Which can be close to 650 Levels. Going by this there are chances that waiting period gets longer and in uncertain market situation can result in loss making trade.

If we consider Daily time frame we had a consolidation phase of close to 6 to 9 months. The range can be treated to measure the target which comes close to 570 levels.

Swing trading strategy which i will ammend

Once we are prepared with Stop Loss and targets. We have to decide that our exit from this trade should be in such a way that maximum profit is accomplished without leaving much in the table. My target -1 is close to 570 Levels based on daily time frame. Post reaching this level i will further decide based on the market situation either to aim for Target – 2 which is close to 650 levels.

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The Swing trading strategy discussed in the market analysis, research reports, etc. may not be suitable for all investors or traders. This is completly for educational purpose only. I am not a SEBI registered advisor. This blog is made for my personal tracking. Do your own research before entering into any kind of trade.

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