Jindal Steel

Value Wave Investment - Long term EWave discussion

Jindal Steel is likely to follow the same path as the metals index. In fact, it has been the best performer within the sector as Steel has been within metals. So I am considering the entire advance as wave 1 and wave 2 came back to the wave IV zone in an almost 50% retracement of the move up. If wave 2 is complete at the recent low of 159.70 we are looking at a larger degree 3rd wave to develop in the coming months. If 3=1 from this low then it points to 610.