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STEEL AUTHORITY OF INDIA LTD.STEEL AUTHORITY OF INDIA LTD.STEEL AUTHORITY OF INDIA LTD.

STEEL AUTHORITY OF INDIA LTD.

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SAIL trade ideas

Sail. What to do with it?Sail had given breakout from it's parallel channel few days back. Today it tested the support. This gives a long opportunity in this scrip, but wait there is this weekly resistance line too. In coming day's it will try to test the weekly resistance again, and if it breaks out, you know the rule. A good long opportunity will come after this weekly resistance line is broken out, and then retested. That's when this scrip will have my blessings. For explanation of breakout and retest look at the chart. This is charting behavior of scrip movement. Apply it on your trading journey/system. Disclaimer: For educational purpose. If you liked the content. Follow, share, and keep me motivated.
NSE:SAIL
by UnknownUnicorn24887800
1
“Rounding bottom” Breakout On the daily chart, the stock hasn witnessed a strong breakout from its “rounding bottom” pattern on a closing basis indicating short term trend reversal The stock has recaptured its 20 and 50 day SMA and rebounded very sharply Rising volumes near support zone implies increased accumulation at lower levels The daily “band bollinger” buy signal reconfirm positive bias The daily and weekly strength indicator RSI signals positive crossover indicate rising strength The above analysis indicate upside of 118-124 levels. Time period is 3 to 4 weeks.
NSE:SAILLong
by tusharvispute1