Stock has made flag pattern on weekly chart and morning star formation in progress. Also retested its multi-year resistance levels of 100, which now acting as strong support.
Longs can be considered at cmp with SL 98 on weekly CB for target of 130 (20%) in short to medium term and 150+ (around 40%) in long term.
Kindly do your analysis before initiating trade.
Sail is currently operating in a channel.
Reversed from lower trendline.
Support of 20,50 and 100 EMA on hourly timeframe.
RSI is slowly gaining momentum.
Flag pattern on Weekly timeframe.
Target: 126 (~20%)
Disclaimer: I am not sebi registered. This chart is for educational purpose. Pls consult your technical advisor before investing.
BUY GUIDANCE:
Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
SELL...
The only reason this stock is so deeply undervalued is its a PSU.otherwise this company trades at super low valuations. The stock trades nowhere next to its replacement costs. The company is also on a very aggressive debt reduction spree.
THe stock is at the box bottom and 200EMA, if it bounces from here it becomes a great value + technical buy. RSI also showing...
Since May 10, 2021 SAIL is going through a correction of complex proportions.. even the eye popping results, reduction in debt and such improvement in fundamentals has not revived the stock price... A good news maybe around the corner with a triangle in formation, the breakout of which may result in the next impulse..the widest breadth of the triangle being 45 is...
I will buy SAIL @ CMP. With stop loss of 121
My observation:
Bollinger band blast and close above upper band on daily time frame .
Uptrend with higher highs and micro Trend completed with successful breakout with higher highs on volume too.
Hilega milega shows bullish signal
Note : For educational purpose only
For Swing Traders, as my Opinion stock is touching Resistant and Support Zone, wait for Resistantline breakout if it breaks stock will may go up definitely
Gearing up for a new 52 week high after a brief consolidation. The metal cycle has yet not ended and we are yet to witness a lot more ahead. In the chart, 20 EMA is heading up above the 50 EMA and the start for the new upcycle can start from 8th of November 2021.
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Regards
Maverick...
