SAIL ! No doubt is a worst performing PSU for few trailing years.Its because of the heavy capital involved in the nature of business and of-course the government interference that has done enormous injustice to the stock. Now talking technically with a few months time view, a small bounce is expected with a peak to be created near to 17th OCT 2019 and then again a downtrend can be seen in the stock. The reasons for the stock to rebound to the level of RS 35.45 is, as it has recently touched the ARC retracement and the sweet zone reversal from the WOLFE WAVE it has created.
Trade closed manually:
Mentioned in the idea that Stock to rebound to the level of RS 35.45. Its achieved today and the candle it formed was really ugly for downside reversal.