A trend reversal appears to be taking shape in SAIL, indicating a potential shift from a downtrend to an uptrend. The stock has recently came out of a falling trendline and has closed above its 200-day EMA, placed at ₹117, signaling renewed strength and buyer interest.
🔄 Technical Outlook
- Breakout Zone: SAIL gave a technical breakout at ₹117, which aligns with its 200 EMA (Day), a widely tracked long-term moving average.
- Current Price Action: The stock is now trading at around ₹130, emerging from a rounding bottom pattern, which is a bullish continuation pattern indicating accumulation and base formation.
- Volume Analysis: Recent trading sessions have shown notable volume spikes, supporting the bullish breakout and trend reversal narrative.
- Fundamental Trigger: Q4 Results have been decent, providing a fundamental cushion to the technical setup. While not overly bullish, the results are good enough to support the ongoing trend reversal, especially if broader market sentiment remains stable.
📊 Support & Resistance Levels
- Crucial Support Zone: ₹127–₹130 — holding this zone is key for sustaining the bullish move.
- Key Breakout Zone: ₹127–₹130 — staying above this range will confirm the breakout and strengthen the upward move.
- Stop Loss: A protective stop-loss at ₹115, which lies just below the 200-day EMA, is advisable to manage downside risk.
🎯 Target Levels
First Target: ₹140
Second Target: ₹150
Final Target: ₹158
Time Frame: Expected to take 2–2.5 months to achieve the projected targets if momentum continues.
🔄 Technical Outlook
- Breakout Zone: SAIL gave a technical breakout at ₹117, which aligns with its 200 EMA (Day), a widely tracked long-term moving average.
- Current Price Action: The stock is now trading at around ₹130, emerging from a rounding bottom pattern, which is a bullish continuation pattern indicating accumulation and base formation.
- Volume Analysis: Recent trading sessions have shown notable volume spikes, supporting the bullish breakout and trend reversal narrative.
- Fundamental Trigger: Q4 Results have been decent, providing a fundamental cushion to the technical setup. While not overly bullish, the results are good enough to support the ongoing trend reversal, especially if broader market sentiment remains stable.
📊 Support & Resistance Levels
- Crucial Support Zone: ₹127–₹130 — holding this zone is key for sustaining the bullish move.
- Key Breakout Zone: ₹127–₹130 — staying above this range will confirm the breakout and strengthen the upward move.
- Stop Loss: A protective stop-loss at ₹115, which lies just below the 200-day EMA, is advisable to manage downside risk.
🎯 Target Levels
First Target: ₹140
Second Target: ₹150
Final Target: ₹158
Time Frame: Expected to take 2–2.5 months to achieve the projected targets if momentum continues.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.