rk10

SAIL - Triangle Breakout

Long
NSE:SAIL   STEEL AUTHOR INDIA
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With all the steel news coming inc PLI SAIL will now be a hard to ignore stock. One of the few PSU's where anybody short could get hurt very badly and most shorts will now look to cover their positions.

Fundamentally the stock is barely trading at book value. With these windfall profits its modernisation plan + debt reduction will progress smoothly while still improving the companies balance sheet .

Technically after a short move of over 100% the stock went into consolidation and now with China news + PLI scheme (They do a lot of value added products) the stock looks set for a breakout.

Long above 129.25
SL Below 119
Target fresh 52 week highs. (Above 151)

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