STEEL AUTHORITY OF INDIA (SAIL)
- Stock has formed head and shoulder formation in daily chart, this indicates sharp movement expecting once stock comes out from its formation, On upper side will find next strong resistance around 91.
- As per technical chart no2, Earlier stock was finding 50 DMA resistance but now it is holding above 50 DMA this will favor bulls as long as stock holds above.
- As per weekly chart once stock closes and holds above its resistance @ 91 then SAIL will find next strong resistance around 95 levels as per weekly 61.8% fibonacci retracement (golden ratio).