STEEL AUTHOR INDIA

NSE

SAIL

target 66 within month..stoploss 55

look for buy oly when trend line break in upside

A inverted head and shoulders pattern can be seen on SAIL on daily and weekly basis with positive breakout on 56-58 level and chart look very strong on monthly and weekly also. and next possible resistance on 70-72 level, Stop area should be 55-56 level.

Explained in the chart regards . But its a good buy for a trader .

C is an impulse . This normally happens when wave B is a triangle . Regards

SAIL

Sail made a swing lows and holds the neck line break out. IF price start moving upward it may rise and starts new up trend.

TARGET: 61 STOPLOSS: 56 After the indecisive market, the market has made bullish view on an uptrend. The trend line is being followed. The 56.50 line has become the support line.

Target 69 Stop 54

1) Invert H&S 2) Support at trend line 3) Highest OI at 60 ; near term resistance 4) Dollar likely to strengthen due to crude oil supply tightness

Possible set up.

After making regular bullish divergence, we have seen an inverted head and shoulder breakout with high volume. Accumulate on dips.

buy@60.3 Tr.60.9

Sail has given Breakout on HTF and on Daily TF Rally is holding well. Expect Immediate Target 67.55 Sustain Above 67.55 for week then this would be good Medium Term Investment Stock.

Important neckline already broken and now SAIL would probably move upward till next week.

accumulate in cash with 54 sl for 69

SAIL, Daily -> Long -------- Twitter: @140twt

Good breakout with volumes, can touch 70 in medium term. Keep an eye on other metal stocks.