Steel Authority of India Ltd. (SAIL) - Up Flag

2021年4月26日

SAIL is in an uptrend. The counter was in a consolidation since 1st April 2021. The price gave upward breakout to the consolidation today on daily chart on 26th April 2021 and closed at Rs.100.50. This breakout is supported by increased volume. I anticipate the price target of Rs.118 and suggest stop loss at Rs.96 for the first four daily candles starting from 27th April 2021. Thereafter the profit booking/ exit decision should be based on a negative crossover of 26 EMA by 5 EMA.
NOTE: This is an attempt to predict future price movements. Investment decision based on this idea, if any, shall be at the sole risk of the investor.