Steel Authority of India Ltd – 30.01.2018.

Daily Sentiment: Bullish.

Weekly Sentiment: Bullish.

Trend Strength: Strong

First Target: 96 (Pivot point)

If there is close below 91 Trend Strength will change to Moderate.

In this scenario deeper correction towards channel support is possible.

If SAIL is able to stay above 91 then rise will resume.

Close above Pivot point would confirm further rise towards channel resistance.

By the way, stock is trading right below Monthly resistance zone.

Need a lot of steam to clear it. If that happens rise towards 150 is possible.

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