SAIL - Elliott Wave SAIL (Steel Authority of India). It seems to be in a running or expanded correction with currently wave 'c' ongoing. Price could test either the 50% of even 61.8% fib. level before turning bullish.
Steelauthorityofindia
$NSE:SAIL looking Bullish and ready for an Upmove.NSE:SAIL has formed Inverse Head and Shoulders in weekly chart and has successfully given breakout from Triangle taking support from 0.618 Fibonacci and if we check weekly chart it has also broken Ascending triangle pattern.
With current Fundamentals and Technicals NSE:SAIL looks strong and ready for one leg up around 160 and 180 in next few months and 200 to 250 in a year.
Those who want to buy NSE:SAIL can buy around 125 to 135 with a Stoploss of 115.
Targets are
-Short Term
1. 145
2. 150
3. 158
- Mid Term
1. 160
2. 180
3. 200
- Long Term
1. 219
2. 256
3. 293
Please note we are not SEBI registered and the idea above is for educational purpose only and for my own understanding. Please DYOR before taking any trade.
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Sail Cup and Handle PatternA clear pattern of Cup and Handle appears on Daily chart of Sail. Breakout has been given around Rs. 94 with a potential upside of 20%.
The breakout has been supported with heavy Volume which indicates strength.
Please give a boost and comment if you find the analysis helpful and consider following for more. Any Request, suggestions or advice are warmly welcomed.
Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my own and for educational purposes only. Make sure you consult your Financial advisor before investing, as I won't be responsible for any losses incurred.
There is a breakout on 200 days ema as well as weekly chart buy There is a breakout on 200 days ema as well as weekly chart buy at 86-87.50. First Target 93 then trail the stoploss which intially is 83.
SAIL Trend AnalysisExpecting strong momentum due to strong bullish divergence in RSI on weekly TF.
Price bounced nicely from support and broke out of the bull flag with increasing volume.
It can retest 100-105 levels during this correction phase before blasting off higher.
I believe infra and realty sectors are going to boom this year, it will positively impact steel and cement stocks as well.
Buy around 100-110 levels
Target 1: 185 (75% ROI) Short Term as per bull flag
Target 2: 280 (165% ROI) Medium Term as per cup with handle.
Both the targets seems achievable by year end.
My studies are purely based on TA, Do Your Own Research before trading or investing.
Peace !!
SAIL(Steel Authority of India)Positional long for 1 year period
SAIL (Steel Authority of India)Positional long for 1 year Time Frame
Buying/Accumulation levels 98 to 125
Stop Loss 90
1st Target 152
2nd Target 180
2nd Target 215
Analysis done on Weekly Price action/pattern
Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor for before making trading decision.
I am not the SEBI Registered Analyst or Advisor( I am Preparing for Certification)
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