IamGeorgy

SAIL can go up if it beats latest Tweezer Top

Long
NSE:SAIL   STEEL AUTHOR INDIA
The fib retracement drawn between the low on 19th April’21 and hight on 10th May’21 says it can retrace to 135 and then 150 levels.
But now it has formed a Tweezer Top pattern in the daily charts.
Levels to watch out for are 121. 05 and 113.35-116.5, which are respected since 2007 and 2011 respectively. If they are breached downwards then those who are holding should be cautious.
Those who want to engage safely should wait till it goes up above 126.
If that happens, then target 1 should be 135 and target 2 should be 150. Stop loss under any of the supports which it respects.

PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.

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