Elliot Wave View: NSE SAIL (Short)January 27, 2022 NSE:SAIL by Dinesh Naidu (Elliotician)
Hello Traders, In this technical analysis blog im going to take a quick look at the Elliot Wave Charts of SAIL Cash NSE.
2D Time Frame, Elliot wave analysis of SAIL suggests that the price could even drop form the current level, Next Support is @ 85.75 to 70.25 odd levels (61.8% Fib), SAIL has taken a very complex elliot wave corrective structure (3-3-5).
Steel Authority of India Limited is a government owned steel producer based in New Delhi, India. It is under the ownership of Ministry of Steel, Government of India with an annual turnover of INR 68,452 Crore for fiscal year 2020–21. Incorporated on 24 January 1973, SAIL has 63,433 employees.
SAIL operates and owns five integrated steel plants at Bhilai, Rourkela, Durgapur, Bokaro and Burnpur (Asansol) and three special steel plants at Salem, Durgapur and Bhadravathi. It also owns a Ferro Alloy plant at Chandrapur. As a part of its global ambition, the company is undergoing a massive expansion and modernisation programme involving upgrading and building new facilities with emphasis on state of the art green technology. According to a recent survey, SAIL is one of India's fastest growing Public Sector Units. Besides, it has R&D Centre for Iron & Steel (RDCIS), Centre for Engineering in Ranchi, Jharkhand
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