Sail is trading at the upper edge of the ascending triangle !
though the momentum is up but past price action has seen it consolidating in the 60-65 band before making n upward/downward journey !
i anticipate a trading range of 56- 65 for feb expiry !
since the price has moved up significantly n the 65 n upward offers huge resistance one sell the 65/67.5 CE feb !...
Weekly chart of sail has formed good upward channel, also volume and open interest is also supporting this upward channel. sail will touch Rs. 65 Tgt. also fundamentally strong , book value is more then Rs. 90.
good stock to hold future for 3-4 month if break channel if will fire.
wish u happy trading enjoy
Sail has moved beyond the channel ! one should not be taking a buying view now as the move can b a whipsaw !!
sell at evry levels now!! one can safely sell the the stock on every rise or can short the feb 65CE@1.6...
It is been observed on the Daily chart that the price action trending up in a channel and now facing resistance on the upper trend line, indicating selling pressure. Now, it shall correct a bit from current levels before further moving up.
TATASTEEL
Target: 458
Stoploss: 468
SAIL
Target: 58
Stoploss:60.50
Uptrend started in Feb 2016 is still intact, moreover it has formed a beautiful up sloping channel recently. I would go long here with Stop Loss 46.40(Closing Basis) and look for a target of above 57. Worth taking risk with good risk to Reward ratio.
Doji candle formed at the supply zone suggests a short entry at this level. I would look for a short if it trades below 50.45 level tomorrow with stop loss of the high made in the recent bar. By risking this small Stop loss I would look to take profit 2.5 - 3 times of it. Happy trading!
It is been observed that the price action is trending up in a channel formation on daily chart. It is also to note that there is a short term formation of Inverted Head N Shoulder Pattern which is about to break above the neckline of 50 level that will take prices further up to 52 levels and then we could see a retracement back to neckline and then a further...
It is been observed on weekly chart that the price action firstly breaks out from a downward trendline and now trending up with increasing volumes indicates change in trend and also high pressure and dominance of buyers in the current price action war. I believe it is a great investment opportunity where one can make over 28% returns within few weeks.
Target:...
It is been correcting for a while under the downward trendline, Yesterday it broke out from that trendline and now we shall see a rally up to the level of 51.
Target 1: 51
SL: 46.50
The price finally broke out from the support levels and now that support levels are acting as resistance. I believe it is a good time to short it the current level for the target of 46.50 SL 47.25
The price action has just completed the previous Gap and now it may reverse from the current levels and moving up to reach out for 49 levels again. If it breaks out from current levels, then we might see 46 levels.
Take a good watch and it is ideal time to get it at minimum risk.
