As of October 11, 2023, at 16:00, Jsw Steel is witnessing a trading price of ₹1017.1, reflecting a gain of 1.02% from the previous day’s close. Meanwhile, the Sensex index is trading lower at ₹81381.36, down by 0.28%. During today’s trading session, Jsw Steel reached a high of ₹1025.75 and a low of ₹1006.8, indicating volatility in the market.
Technical Analysis of Jsw Steel
From a technical standpoint, Jsw Steel is trading above its short-term simple moving averages (SMA) for 5, 10, and 20 days, as well as its longer-term moving averages for 50, 100, and 300 days. This positions the stock in a favorable trend, which could attract further investor interest.
SMA Overview
The SMA values are crucial indicators to gauge the stock’s performance over various time frames. They reflect the average price over selected periods and can help investors understand market sentiment better.
Pivot Level Analysis
Analyzing classic pivot levels, Jsw Steel has identified key resistance levels at ₹1022.57, ₹1034.23, and ₹1042.52. Additionally, important support levels are established at ₹1002.62, ₹994.33, and ₹982.67, providing a framework for traders to manage risk effectively.
Trading Volume Insights
Up until 4 PM today, the trading volume for Jsw Steel on both the NSE and BSE has surged by 2.44% compared to the previous trading session. Analyzing trading volume is essential as it works hand-in-hand with price movements. A rise in price accompanied by increased volume can signify a sustainable upward trend, while increased volume in declining prices might indicate potential further drops.
Current Market Sentiment
Overall, Mint’s technical analysis suggests that Jsw Steel is currently in a strong bullish trend, reflecting positive investor sentiment and confidence in the stock’s future performance.
Fundamental Analysis
From the perspective of fundamental growth, Jsw Steel boasts a Return on Equity (ROE) of 12.29%. Furthermore, the current Price-to-Earnings (P/E) ratio stands at a notable 33.56, assisting investors in evaluating the stock’s valuation in comparison to its earnings potential.
1-Year Forecast
The median 1-year forecast anticipates an upside of 5.52% for Jsw Steel, with an outlined target price of ₹961.00. This projection can help investors gauge long-term potential returns.
Shareholding Structure
As per the latest filings from the June quarter, Jsw Steel shows a 0.00% promoter holding, a 6.86% Mutual Fund (MF) holding, and a 10.51% Foreign Institutional Investment (FII) holding, which provides insights into the level of institutional confidence in the company.
MF Holding Insights
Notably, the MF holding has increased from 6.59% in March to 6.86% in the June quarter, indicating growing institutional interest. This trend may reflect positive sentiment towards the company’s growth prospects.
FII Activity
On the other hand, FII holdings have witnessed a decline from 11.05% in March to 10.51% in June, which suggests a cautious approach among foreign investors, potentially in response to market conditions.
Performance Compared to Peers
Today, Jsw Steel’s share price rose by 1.02%, aligning with positive trends observed in its peers. Despite overall market pressures, as indicated by the benchmark indices Nifty and Sensex falling by 0.14% and 0.28%, respectively, Jsw Steel seems to maintain a resilient performance, drawing investor attention.
