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STEEL AUTHORITY OF INDIA LTD.STEEL AUTHORITY OF INDIA LTD.STEEL AUTHORITY OF INDIA LTD.

STEEL AUTHORITY OF INDIA LTD.

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SAIL trade ideas

SAIL: Trade Idea in CashThere are several factors at play, but all can still fail. RSI Divergence: Positive divergence on daily and weekly charts. Pattern: Formation of a W-pattern on the daily chart, now retesting the range Key Levels: Price near the 200-week moving average and a long-term trendline (since 2020). Candlestick: Engulfing candle formed earlier on the weekly chart. Breakout: Upper trendline resistance has been broken. These signals suggest a bullish scenario, but risks remain due to potential failures.
NSE:SAILLong
by drlalitkumar1987
1
SWING IDEA - SAILSAIL Stock Technical Analysis Steel Authority of India Limited ( NSE:SAIL ) has been consolidating around the 95 resistance level for over a year. After multiple attempts, the stock finally broke out above this level in January 2024, turning it into a strong support zone. Following the breakout, SAIL surged to a peak of 175, marking an 85% gain. However, the stock then saw a sharp retracement, correcting by nearly 47% and revisiting the rising trendline support around the 100-105 range. This level, which previously acted as resistance, has now become a critical demand zone. Currently, SAIL is showing signs of renewed bullish momentum, bouncing off its trendline support and forming a potential reversal. The weekly MACD crossover, observed in the chart, further reinforces a trend reversal signal. Additionally, a short-term upside target of 12% is indicated, while a long-term potential target of 76% upside is visible in the chart, aligning with the previous swing high. The chart also highlights three take-profit targets: Target 1: The first profit-taking zone, offering an initial opportunity to secure gains. Target 2: A mid-level profit-taking zone, aligning with previous consolidation areas. Target 3: The final take-profit level around 175, marking the prior high and a potential full exit point for long-term investors. KEY OBSERVATIONS: One-year resistance of 95 was decisively broken in January 2024 Stock surged 85% to a high of 175 before correcting 47% 100-105 level now acts as a strong rising trendline support Weekly MACD crossover signals a bullish momentum shift Three take-profit targets identified, with the final target at 175 Potential upside target of 76% from support levels, aligning with previous highs RECOMMENDATION: Based on this technical analysis, holding SAIL for the long term could be a strong strategy. The potential returns include: 12% upside in the short term 76% upside from current levels, targeting previous highs around 175 This analysis presents a compelling buying opportunity in SAIL, fueled by its breakout, support validation, and momentum reversal. IMPORTANT NOTE: Investors should be aware that there is a chance the stock may retest the 100-105 support level before resuming its upward trajectory. This potential pullback should be carefully monitored, and investment strategies should be adjusted accordingly. DISCLAIMER: This analysis is for educational and informational purposes only and should not be considered as financial advice. Technical indicators and historical data are not guarantees of future performance. Investors should conduct thorough research, assess risk tolerance, and consult a financial advisor before making any investment decisions.
NSE:SAILLong
by thepranam
CLOSING ABOVE 124 IS THE BUY CALL - SAIL ON SAILEverything is pretty much explained in the picture itself. I am Abhishek Srivastava | SEBI-Certified Research and Equity Derivative Analyst from Delhi with 4+ years of experience. I focus on simplifying equity markets through technical analysis. On Trading View, I share easy-to-understand insights to help traders and investors make better decisions. Kindly check my older shared stock results on my profile to make a firm decision to invest in this. For any query kindly dm. Thank you and invest wisely.
NSE:SAILLong
by Abhishekingx
3
STEEL AUTHORITY OF INDIA S/RSupport and Resistance Levels: Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:SAIL
by zenthosh
Technical Analysis of Steel Authority of India (SAIL)Technical Analysis of Steel Authority of India (SAIL) Overview of the Stock - The provided chart presents a 1-hour timeframe for Steel Authority of India (SAIL) on the NSE. Key indicators include price, EMA (200), and RSI (14). Technical Analysis based on Price Action Short-term Trend: The price is currently below the 200 EMA, suggesting a potential bearish bias in the short term. Recent Movement: The price has been relatively stable with minor fluctuations, indicating a lack of strong directional momentum. Technical analysis based on Indicators EMA (200): As mentioned, the price is below the 200 EMA, which is often considered a long-term trend indicator. This position could exert downward pressure on the price. RSI (14): The RSI is currently at 21.33, which is in the oversold territory. This suggests that the stock might be due for a rebound or a period of consolidation. However, it's important to note that oversold conditions don't guarantee a price increase. Potential Outlook of the Stock - Based on the information fetch with the technical analysis of the chart, here are some potential scenarios: Continued Consolidation: The price might continue to fluctuate within a narrow range, especially if the RSI remains in the oversold region. Downward Pressure: If the price breaks below recent lows and the RSI fails to show signs of divergence, it could indicate further downside potential. Potential Rebound: A move above recent highs and a simultaneous increase in RSI could signal a potential bullish reversal. Remember: Technical analysis is just one tool in an investor's toolkit. It's essential to combine it with fundamental analysis and risk management strategies. Disclaimer: This analysis is based solely on the provided chart and does not consider fundamental factors. It's crucial to conduct thorough research and consider multiple factors before making investment decisions. Thanks for your support as always
NSE:SAILLong
by ForexTrader4all