SAIL trade ideas
SAIL LEVELS AND TARGETS FOR POSITIONAL TRADESSAIL LEVELS AND TARGETS FOR POSITIONAL AND SWING TRADES. ASCENDING TRIANGLE CAN BE SEEN
SAIL LONGDouble Bottom and Cup and Handle Breakout. CNX Nifty Metal Possible Breakout. Positional Call.
Steel Authority of India Steel Authority of India - after years of depressed prices It is showing life
Breakout and multi year cycle reversal on the cards .
Leads to start of longterm Uptrend.
Its my personel opinion you trade at your own risk
CAN (Steel Authority of India) SAIL TROUGH THE HEADWINDS ?As the long term downtrend has been paused, let's see how far this stock can be pushed on a short term basis:
It bounced from an all-time low of 19.95 to initiate the upward correction.
The first push up took it to 32.05 and after retracement, the custom point is created at 25.80
If we measure the Fibo Ext at 100% the target is 37.80 which lies in between the upcoming resistance zone.
Invalidation of this buy trade would be the break of the rising trend line or a close below the custom price at 25.80
Go long .. buy in bulk After Sail recent announments the stock price has been constantly moving up .. keep buying .. it’s near the lowest
Sail Weekly Chart BreakoutIncreasing volume over weeks, ADX rising, EMA 10 crossed EMA 21, and a breakout above 44 sustained. Tomorrow’s close above 47.55 will be considered positive for fresh uptrend to continue.
Trading for 52 and 60 Rs target with SL of 41.50
