Stock Picks - Buy Steel Authority of India Ltd For Target Rs.126 - ICICI Direct
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Technical Observations
* The share price of SAIL has rebounded after taking support at 200 day EMA also coinciding with multiyear breakout area around | 100, signaling resumption of up move and fresh entry opportunity.
* The stock has retraced 50% of its Jan-May up move (| 55-151), a shallow retracement signals a robust price structure and favorable risk-reward at current levels
* Going ahead we expect the stock to resume its up move and head higher towards | 126 being its November highs
* Among the oscillators the weekly RSI is in rising trajectory above its 9 period average thus validates positive bias.
Buy Steel Authority of India Ltd @ 113.00-116.00 TGT 126 SL 108
To Read Complete Report & Disclaimer Click Here
https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
Stock Picks : TCS Ltd And Chambal Fertiliser Ltd By ICICI Direct
