manuvsingh

SAIL Multi-year multiple Breakouts - BULL RUN AHEAD

Long
NSE:SAIL   STEEL AUTHOR INDIA
SAIL a Roaring Buy

Multi-Year multiple Breakouts on Weekly Chart

1)First - Head & Shoulder BO above neckline of 90
Head & Shoulder formation on weekly chart since 2013 completed.

2)Second - BO above 114 with highest volume since 2009.
114 was a strong resistance since 2012, which SAIL was unable to break in 2012 & 2014

3)Golden Cross Over Formation - 50 Week SMA may cross over 200 Week SMA anytime in coming weeks, which will again take the stock price higher.

Targets as per Fibonacci
162 - 176 - 200 - 236

Minor Resistances are placed at
153 & 196

SL - 99
Daily, Weekly & Monthly RSI - In Overbought Zone
Shows the strength of the momentum.
Trade active: Wonderful Result
SAIL Q4FY21

Revenue at 23285cr vs Poll of 22850cr

Adjusted EBITDA at Rs.7304cr vs Poll of 6488cr

Adjusted Margins at 31.4% vs Poll of 25.2%

Employee costs included wage revision of 1150cr

Net debt down ₹16131 Cr in FY21