SAIL is in a consistent interim downtrend.
It has made a high of 75.20 on very first trading day of January, 2014. Today it
closed at Rs. 58.80 /-. After breaking three major supports, it
closed at 2.50
% down price. One can sell this stock
for the down targets of Rs. 57.10 /- and Rs. 56.50 /-. As we were expecting a
bounce in the market from the support, the market has given a good bounce from
the gap down open level, which was almost 80 points bounce. So if the follow up
buying appears, then we have to be extra cautious by keeping our Stop Loss at
Rs. 60 /- in SAIL Sell trade.
No comments:
Post a Comment