BharatJhunjhunwala

We may notice that there are multiple of factors supporting SAIL

Long
NSE:SAIL   STEEL AUTHOR INDIA
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.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com

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