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Sailindia

SAIL: Steel Authority of India Ltd - Breakout ViewDate : 8-Jul-2024 Rating : Buy - Positional View LTP : Rs. 155.61 (on 5-Jul-2024) Targets: (1) Rs. 175 --> (2) Rs. 188 --> (3) Rs. 210 SL : Rs. 140 on daily close basis Technical View: • NSE:SAIL is in it's primary uptrend and was recently going through it's secondary downtrend. • After touching the high of 175.35 on 22-May-2024, it has retraced 29% to 124.80 level. • On 5-Jul-2024, NSE:SAIL has broke out from its secondary down trend with higher than average volume. • NSE:SAIL is trading above 20 DMA, 50 DMA and 21 DEMA. • RSI is trading at 54.16 and MACD is about give cross over. • Looking strong to start a new swing from here. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
NSE:SAILLong
by vicky252
Bullish Opportunity: SAIL Channel Breakout Above 160Details: Asset: Steel Authority of India Limited (SAIL) Pattern: Channel breakout Breakout Level: Sustaining above 160 Potential Targets: Projection based on channel width or next significant resistance levels Stop Loss: Below breakout level or as per risk tolerance Timeframe: Medium to long-term Rationale: Steel Authority of India Limited (SAIL) has experienced a channel breakout, indicating a potential shift in sentiment. The stock has shown strength by sustaining above the key level of 160. This breakout suggests the possibility of a significant bullish move in the near future. Accumulation Opportunity: The current scenario may present an opportunity for investors to accumulate SAIL shares at advantageous levels, considering the potential for further upside. Possibilities: Bullish Momentum: Sustaining above 160 could attract further buying interest, potentially fueling a bullish momentum. Projection Targets: Traders often project potential upside targets by measuring the width of the channel and extrapolating it from the breakout point. This provides an estimation of the potential target levels. Confirmation: Confirmation of the breakout with sustained trading volume would enhance the validity of the bullish scenario. Risk-Reward Ratio: Depends on individual risk appetite and stop-loss placement. As with any investment decision, it's important to conduct thorough analysis and consider risk management strategies before accumulating the stock.
NSE:SAILLong
by CyborgTradingHub
SAIL Analysis !!📈 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 basis. Please have a look and revert back if you need some more study on it. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:SAILLong
by ShelendrAgrawal