Details:
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...
1st Resistance is 86.5
2nd Resistance is 95.4
let the SAIL take support of Double Inclined trend lines at 83.5. and wait for the 1st resistance breakout.
Entry price = 87
SL = 84.5
Target = 95.4
📈 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...
