SAIL has shown bullish signs by rising above the breakout level. The XABCD bearish crab pattern gives us the targets mentioned on the chart.
The volumes were higher than the previous sessions also. However, wait for a pullback or add partial quantity and add further if the rally starts.
The breakout and stop loss levels are mentioned on the chart.
Happy trading...
All My Discussion And Analysis Are For Educational Purpose And Future References. Please Kindly Ask Or Consult Your Financial Adviser Before Taking Any Investment Or Trading. Thanks //
After reaching 52 week high it appears it had undergone a flat correction
which ended at 108.
intersecting channels drawn diligently one meant to pick up the bottom which it did at around 108 where strong support line was existed also.
The impulse wave of SAIL is yet to be established but it appears it is going to rise further,
please go through my previous post...
Sail
SAIL Daily TimeFrame Chart
Above 130 we can go for long with 115 as stop loss for 1:1 Risk : Reward
Just my View of Analysis. For Learning Purpose only.
Sail is in recovery stages, looking for clearer sign of strength, we broke out of falling channel and now have overlapping impulse waves, could be a leading diagonal, if yes we can start projecting higher. all indicators are also suggesting same direction, one can go long at these levels or in dips ( if any ) with mentioned key levels on chart.
Wave Structure...
Keep an eye!
- Key levels have been marked
- Volumes have generally been decent in the recent sessions
- Sideways consolidation between the key levels might happen
This is not a recommendation, do your own analysis before putting your money in it
SAIL trading around the 14Y trendline. It may give a big breakout or a steady rise, It is also supported by a cup and handle pattern in Daily timeframe. overall it is bullish and looks very good for long term.
Positive Signals:
- Trading above monthly 200 MA
- Trading over 14Y trendline
- Cup & Handle formation supporting the bullish trend
Short Term target is...
metal may see some demand in upcoming days..
only expect positive momentum.
rest news in an external factor which may act opposite.
NOTE- this is just tutorial basis not any tip/suggestion.
Perfect entry here,
This guy has already faced 3 times resistance at this level previously. It has broken this level successfully and retested again here this time. Now it becomes ready to take a high jump over and above 150.
We can enter here and sit tight for a good long rally.
Thanks.
