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The stock of JSW Energy fell 1.5 per cent on Tuesday and has closed on a weaknote ahead of its Q4 results on Wednesday. The stock is in a strong short-term downtrend. Significant resistances are at ₹58 and then at ₹59.7 where the 21-day moving average is placed. If the results beat market expectation then it can help in triggering a reversal. Technically the outlook still remains weak and the possibility of a fall to ₹54, the 50-per cent Fibonacci retracement level remains open.
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