Tech Stars : Buy Steel Authority of India Limited And V-Guard Industries Limited By Religare Broking
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Steel Authority of India Limited (SAIL)
TECHNICAL RATIONALE
We are seeing noticeable buoyancy in the metal space and Sail is trading in tandem with the move. It has also witnessed a breakout from a consolidation range, after spending nearly 3 years. All indicators are in the favor of prevailing trend to continue. We thus recommend creating fresh longs in the mentioned range.
Buy Steel Authority of India Limited CMP 136.60 Initiation Range 134-137 Stop Loss 126 Target 154
V-Guard Industries Limited (VGUARD)
TECHNICAL RATIONALE –
V-Guard has resumed the uptrend after forming a higher pivot while holding above the support zone of short term moving average i.e. 20 WEMA. The price action combined with the reading of oscillators are pointing towards a steady rise. Traders shouldn’t miss the opportunity and create fresh longs in the given range.
Buy V-Guard Industries Limited CMP 317.05 Initiation Range 315-318 Stop Loss 303 Target 355
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SEBI Registration number is INZ000174330
