In the coming weeks metals may witness a pull back, like tata steel SAIL is also enjoying a hammer
formation on a very strong support level
. We may notice that there are multiple of factors supporting SAIL here. The hammer
formation further confirms buying here. RSI
is just at the bullish
oversold extreme though MACD
has fallen below 0, a bounce may not be ruled out. 45, 47 & 50 are the most probable target zones while falling below 40
will not be a good news for buyers.