Rushikesh_09

SAIL-DAILY/WEEKLY/MONTHLY-Breakout

Long
NSE:SAIL   STEEL AUTHOR INDIA
SAIL

Stock is near verge of breakout 90-91 level. It has formed a rounding bottom near support levels.

As per the weekly chart it is creating higher lows from past few weeks. Currently there is a inside candle formed in weekly timeframe. However, it needs 3 more days to get confirmed how it will appear.

I still believe that the stock is bullish above 87-86 levels. If it goes for retest, it will be good opportunity to accumulate some qty around 88.50.

We can keep SL around 85, it has potential to go upside T- 100, T2- 110.

This is only for educational purpose, please manage your risk accordingly.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.