Stocks: Buy SAIL

 

SAIL bottomed out by posting an intra-week low of Rs. 091.50 during the week ended 09th March 2007, staged a smart rally but ran into resistance from the 116 level during the week ended 30th March 2007. The scrip couldn’t sustain these levels for long, but recovered smartly, and peaked by posting an intra-week high of Rs. 167.10 during the week ended 20th July 2007. SAIL declined from here, struggled a bit, entered a medium term uptrend, appreciated to peak at an intra-week high of Rs. 292.50 during the week ended 14th December 2007. The scrip declined rather sharply from here, received support from the 055 level to bottom out by posting an intra-week low of Rs. 055.25 during the week ended 21st November 2008 only to stage a smart recovery. Currently Sail Limited is
in the process of commencing its medium term uptrend after a corrective movement on the weekly chart and with the mechanical indicators looking positive, a further upside from these levels cannot be ruled out.

Stochastic-Buy ROC-Buy RSI-Buy Resistance: 196, 210 55 Week EMA: 167.03
Trading Pointers:
Indicators : MACIl-Sell RMI-SeU
Support: 173, 155
BSE Code —500113