Jindal Steel & Power Ltd. (CMP: ₹994, SL: 915) is showing promising technical strength, with an Inverse Head and Shoulders formation emerging on the hourly chart — a widely tracked bullish reversal pattern. The setup, which often precedes an uptrend, is being reinforced by a rising MACD line, signaling improving upward momentum.

Source: NSE

The immediate hurdle lies at ₹1,000, where a breakout supported by strong volumes could trigger further upside. On the downside, ₹970 serves as immediate support, with a stop loss pegged at ₹915 to safeguard against sharp reversals.

While price action has been firm, analysts note that volume contraction could delay a decisive move, making a volume surge a key confirmation signal. For active traders, sustained trade above ₹970 and a clear breach of ₹1000 could open the door for short-term gains.

Note: Charts and prices are as of 12:30 PM.

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