SAIL. | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK : STEEL AUTHORITY OF INDIA (SAIL)

CMP : 85.50 (01-07-2023)

ABOUT : Steel Authority of India Limited (SAIL) is one of the largest state-owned steel-making companies in India. It is a public sector undertaking (PSU) and operates as an integrated steel producer. SAIL was established in 1973 and is headquartered in New Delhi, India.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (WEEKLY TIME FRAME)

(CLICK ON ABOVE IMAGE FOR CANDLE STICK CHART VIEW)

OBSERVATION :

Stock has formed a SYMMETRICAL TRAINGLE pattern on a weekly time frame. once the stock gets breakout of its pattern above 86-87 levels further we may see good upside rally. 

Expecting the stock to show (15-20%) returns coming weeks/months.

Add this stock to your watchlist to understand further price action.

How does SYMMETRICAL TRAINGLE PATTERN WORKS ?(CLICK HERE)

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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