Jindal Steel : Continued rebound in the short-term

• On the daily time frame, the stock has been consolidating in a channel. On 08th April 2016 it managed to close in the bullish candlestick formation. 
• Stock rise was accompanied by surge in the volumes.
• Moreover, it ended above the short and medium-term moving averages, suggesting buying at lower levels.
• On monthly charts, it held above the previous candle's low suggesting support there.
• Considering above technical facts, we believe it could continue to rebound in the short-term