JSW Steel Technical Analysis

Name : JSW Steel Limited

NSE Symbol : JSWSTEEL | BSE Code : 500228

Sector : Metals – Steel Manufacturing

Dear Investors,

JSW Steel Limited was established in 1982 and is headquartered in Mumbai. It is one of India's leading integrated steel manufacturers with operations across domestic and international markets. The company manufactures hot-rolled and cold-rolled steel coils sheets TMT bars wire rods and coated steel products for automotive construction infrastructure and engineering industries.

Its revenue model is primarily based on steel production and sales. Capacity expansion value-added products international operations and strategic partnerships provide opportunities for future business development.

Market trend :

On 6 November 2026 JSW Steel opened at ₹1339.10 against its previous close of ₹1355.60 indicating a lower opening. The stock touched an intraday high of ₹1359.40 and a low of ₹1320.60 before closing at ₹1357.10 with a marginal gain of 0.11%. In comparison the Nifty 50 advanced 2.01% indicating relative underperformance. However the stock recovered strongly from its intraday low and closed near the day's high reflecting improved buying interest during the latter part of the session.

Financial Performance :

During FY2026 JSW Steel reported consolidated revenue of ₹185470 crore against ₹168824 crore in FY2025 representing approximately 10% growth. Reported EBITDA increased to ₹29821 crore from ₹22904 crore. Consolidated net profit was ₹25508 crore compared with ₹3491 crore in the previous year. However FY2026 profit included substantial exceptional gains. Normalised net profit excluding exceptional items was ₹8698 crore.

In Q2 FY2027 consolidated revenue increased 10.7% year-on-year to ₹54486 crore while net profit rose 225.3% to ₹5279 crore. EPS reached ₹21.63. Steel sales achieved a quarterly record of 7.46 million tonnes. On 6 November the stock recorded approximately 29.86 lakh shares in trading volume. These developments indicate improved operating activity alongside stronger reported profitability.

Technical Analysis :

The share closed at ₹1357.10 against its 52-week high of ₹1370 and low of ₹1073.20. RSI stood near 68 while MACD remained positive at 25.53 above its signal line of 8.31. The stock traded above its 20-day 50-day 100-day and 200-day moving averages. ADX indicated an established trend. These indicators reflect positive momentum although the RSI approaching 70 warrants observation for possible momentum exhaustion. Fibonacci and Gann projections require independent chart validation.

Effecting Factors :

Global steel demand and prices remain sensitive to economic developments in the US Europe China and Japan. Crude oil coking coal iron ore and other commodity prices influence production costs and margins. Currency movements and international trade restrictions may affect exports and domestic pricing. In India infrastructure expenditure construction activity automobile demand and government steel policies remain important sectoral drivers. On 6 November the Nifty 50 advanced 2.01% while institutional flows reflected net FII buying and DII selling. Company-specific developments include higher quarterly sales improved EBITDA capacity expansion and strategic partnerships. The proposed Odisha steel joint venture with POSCO and planned capacity expansion are relevant long-term developments.

Risk factor :

Key risks include fluctuations in iron ore and coking coal prices global steel oversupply import competition and changes in domestic demand. High capital expenditure interest costs environmental regulations and project execution delays may affect profitability and cash flows.

Recommendation : Neutral Editorial Assessment – No Buy / Sell / Hold Recommendation.

Analysis Date : 7 November 2026 | Saturday