STEEL AUTHORITY OF INDIA
Sail long.....
SAIL Technical Breakout Setup
Current Price: *125.74 (+2.66%)
Date: May 23, 2025
Key Technical Levels
Entry Zone: Above yellow support zone (*125-130 range) Stop Loss: Red line at *96.33
Target 1: Green dotted line at *173.76 (+38% upside) Target 2: Green dotted line at *259.10 (+106% upside)
Technical Analysis
Pattern Recognition:
SAIL is forming a long-term triangular consolidation pattern
Stock is approaching the apex of a multi-year triangle
Blue diagonal trendline acts as major resistance since 2008 highs
Yellow horizontal zone provides strong support
Current Market Structure:
Price is holding above the critical yellow support zone
Recent bounce shows buying interest at these levels
Volume appears to be picking up on the recent move
Probability Assessment
Target 1 (*173.76) Probability: Moderate to High
This level represents the previous resistance zone
If breakout sustains above ₹130, this becomes achievable
Risk-reward ratio: Approximately 1:1.6
Target 2 (*259.10) Probability: Lower
This is an ambitious target requiring significant momentum
Would need broader market support and sector rotation
Risk-reward ratio: Approximately 1:5.5
Trading Strategy
For Aggressive Traders:
Enter on sustained close above *130
Partial booking at Target 1
Trail stop loss for Target 2
For Conservative Traders:
Wait for weekly close above *135
Smaller position size given the risk
Risk Management:
Strict stop loss at *96.33 (23% downside risk)
Position sizing should reflect the volatility
Important Notes:
Steel sector performance depends on infrastructure spending
Global commodity prices impact fundamentals
This is a technical setup - fundamental analysis required separately
This analysis is for educational purposes. Trade at your own risk.
Sail long.....
SAIL Technical Breakout Setup
Current Price: *125.74 (+2.66%)
Date: May 23, 2025
Key Technical Levels
Entry Zone: Above yellow support zone (*125-130 range) Stop Loss: Red line at *96.33
Target 1: Green dotted line at *173.76 (+38% upside) Target 2: Green dotted line at *259.10 (+106% upside)
Technical Analysis
Pattern Recognition:
SAIL is forming a long-term triangular consolidation pattern
Stock is approaching the apex of a multi-year triangle
Blue diagonal trendline acts as major resistance since 2008 highs
Yellow horizontal zone provides strong support
Current Market Structure:
Price is holding above the critical yellow support zone
Recent bounce shows buying interest at these levels
Volume appears to be picking up on the recent move
Probability Assessment
Target 1 (*173.76) Probability: Moderate to High
This level represents the previous resistance zone
If breakout sustains above ₹130, this becomes achievable
Risk-reward ratio: Approximately 1:1.6
Target 2 (*259.10) Probability: Lower
This is an ambitious target requiring significant momentum
Would need broader market support and sector rotation
Risk-reward ratio: Approximately 1:5.5
Trading Strategy
For Aggressive Traders:
Enter on sustained close above *130
Partial booking at Target 1
Trail stop loss for Target 2
For Conservative Traders:
Wait for weekly close above *135
Smaller position size given the risk
Risk Management:
Strict stop loss at *96.33 (23% downside risk)
Position sizing should reflect the volatility
Important Notes:
Steel sector performance depends on infrastructure spending
Global commodity prices impact fundamentals
This is a technical setup - fundamental analysis required separately
This analysis is for educational purposes. Trade at your own risk.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Let’s grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Let’s grow together!
Related publications
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.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Let’s grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Let’s grow together!
Related publications
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.