AdhigamaTrading

SAIL is in up move

Long
NSE:SAIL   STEEL AUTHOR INDIA
SAIL is in up move :

Reasons/Traits :
Triangle pattern break out yesterday and today got confirmed
• Volumes are high
• Price above 13/20/50/200 EMA
• Price above VWAP
• Increased open interest, high deliveries

What can happen next :
Scenario 1 : Price sustaining above 123 levels can take it to 133/141/151 levels
Scenario 2 : Price break down below 123 can take it down to 116/105/98 levels

Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!

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Comment: triangle pattern breakout failed..
Comment: scenario 2 following low 103