proton073

Long Indication on Sail

Long
NSE:SAIL   STEEL AUTHOR INDIA
Sail has breached its major trendline resistance and now making freely towards it's fib level of 152, Peak volumes like this is not visible for almost 8+ years which indicate that this is not a false breakout. Wait for a Minor Pullback for an entry. This is solely for Education Purpose Only.

Depending on your risk appetite you can book completely at 152 or Partial and ride the Trend,
Trade active: Fib lvl target 1 hit and reversed from that level. keep an eye and e cautious.

Comments

Shall I book profit and re enter at 115 levels or Wait for 184?
Reply
proton073 chinmaypatnaik
@chinmaypatnaik, No don't do that if the stock has potential you might be missing a big run. Keep a tight stop loss at 137.90 and sit tight.
and also metal sectors are booming check out hindcopper hitting upper circuits from past 3 sessions.
Reply
@proton073, ok I'll do that. Thanks. Are there any chances when these stocks like tata steel and sail give a minor pullback and then rally once again?
Reply
proton073 chinmaypatnaik
@chinmaypatnaik, Yes! that's exactly what happens all the time. One stock cannot always go up 90 degree steep give it some room to breathe and hold on to a tight stops.
Reply
Your view on Divis lab
Reply
@dariusmirza3 price has reached an uncharted territory. as longs as it trades above 3950++ it's Strong. 4000 is a psychology Support level
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I am bullish on sail it may cross 300+ as well.... because the company has grown a lot what it was earlier in the previous commodities bull market....
Reply
proton073 chinmaypatnaik
@chinmaypatnaik, yes but please do keep an eye on the fib lvl targets marked on the chart as they are very crucial level. I hope it breaks them and extends to rally making everyone money.
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@proton073, yes. Hope so. What's your views on BHEL? I think it is also going to ride the trend.
Reply
proton073 chinmaypatnaik
@chinmaypatnaik, bhel charts are showing me a speculative trade I stay away from these charts but if you are interested I have posted another study which is very close to break out. Check it out in my profile.
Reply
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