NSE:SAIL Weekly Analysis for long duration
Wait for strong Breakout and sustain above 87
Trendline breakout is important
If gave clear breakout and sustained with LH LH structure can go for long with SL of 70
T1 100, T2 120, T3 140
📈 SAIL 📉
Today broke out from a Resistance Zone after testing two times and also broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 114, 129 followed 143.
StopLoss should be kept at 93.
It offers 1:4 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing...
SAIL has been forming descending channels for more than 47 weeks . It has accomplished corrective structure((4)) at 61.8% of wave ((3)).
Wave ((4)) is a double combination pattern. After creating a low of 84.35, the price started marching upward.
If the price breaks out of the corrective channel, traders can trade for the following levels: 123 - 143 - 162+
Reasons to buy NSE:SAIL :
1. About to break long term trend .
2. Small divergence seen on RSI
3. Reverse Head and Shoulder seen in RSI
4. Bullish Marubozu candle without wicks indicates bullish coming weeks .
Need to hold it for Long time as the tf here is 1 DAY.
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
SAIL has shown bullish signs by rising above the breakout level. The XABCD bearish crab pattern gives us the targets mentioned on the chart.
The volumes were higher than the previous sessions also. However, wait for a pullback or add partial quantity and add further if the rally starts.
The breakout and stop loss levels are mentioned on the chart.
Sail is in recovery stages, looking for clearer sign of strength, we broke out of falling channel and now have overlapping impulse waves, could be a leading diagonal, if yes we can start projecting higher. all indicators are also suggesting same direction, one can go long at these levels or in dips ( if any ) with mentioned key levels on chart.
Sell at 107.70
TARGET buy 106.70
i am not a professional trader and this is not a recommandation. this is for study purpose..
if i am wrong in this analysis then please let me know....
thanks in advance
1)On Daily Time frame: It has been facing resistance from 21DMA and is not able to close above it. Currently 21DMA is placed at 121.48 level.
Please refer below chart : Daily time frame.
2) On daily time frame: It has been respecting the support zone and keep on taking support from it. Support Zone if from 118.55 to 120 level.
Weakly chart Consolidation
LONG term 1x, 2x return.
Strong on the Metal sector.
Long term target 1 - 240
Target 1 - 128
Target 2- 140-145
Target 3 - 150
From here it can break strongly because of hitting resistance 3 times in a swing.
If SAIL falls from here accumulate shares at a lower prices at 110 and 100rs
On daily time frame it has taken support from 50DMA range on 11 Aug and 13 Aug.
And on 13 Aug, it closed above 21DMA and 50DMA. This is a sign of reversal is coming in trend.
Please refer below chart.
And If you see, since Novemebr 2020 it has traded below 50DMA for very less time and...