After the previous run , stock has gone into a consolidation & formed a bullish triangular structure. The breakout of the structure suggests , sail has more upside in the coming session . Look for the target of 105 levels . SL should be maintained at 86
While many TV analysts are still pretty bullish on the steel sector due to global factors on steel, I believe we could witness a small/medium correction in the days to come although the overall picture is still very bullish.
I see long Bearish Divergence. I have broken down the major divergence into smaller blocks and as seen in the chart every time a bearish...
Nifty Metal Trend Analysis and Important Callouts. Nifty Metal is on uprun from long time. A downward channel is developing any may test main upward channel mid and lower channel support in coming days. If lower developing channel is breakout upwards then Metal may continue to rise as it was doing before.
Will revisit this idea in coming days to see if index has...
It has formed double top on a very short time frame.
But the RSI also formed two tops.
The second top is lower then the first one which means lesser people tried in making the second top.
The tells us decreasing interest in the stock after breakout.
There has already been a big rally and we can expect a consolidation...