KunalJain

SAIL - Possible reversal in short term trend.

NSE:SAIL   STEEL AUTHOR INDIA
Sail is consolidating since 1 month after big move earlier and since then trading in symmetrical triangle, now it's near support zone as shown in chart, and as the triangle getting narrowed, expect a breakout soon, most probably a upside breakout as volume is not great during fall also RSI & CMO is in oversold zone, so expect a reversal in trend, and as it break past the resistance zone then expect it to resume the original medium term up trend,

Overall I expect that Sail should soon achieve the long awaited 3 digit mark.
Comment: SAIL 77.50 to 82, upper trend line met as suggested with solid 6% rise.

Comments

Hope the break out happens in the positive side...
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