SAIL | TECHNICAL ANALYSIS

Steel Authority of India Ltd (SAIL) – 1D Chart Analysis

🔹 Trend Overview: SAIL continues to maintain a strong bullish structure on the daily timeframe. The price recently gave a breakout above the ₹141 zone, which previously acted as a strong resistance, and is now retesting the same level. The short-term trend remains positive with higher highs and higher lows formation visible. Momentum indicators are well aligned in favor of bulls. 🔹 Key Levels: Support Level: ₹118.00 Demand Zone: ₹127.70 – ₹130.00 Breakout (BO) Level: ₹141.10 Resistance (R1): ₹156.49 Resistance (R2): ₹170.33 🔹 Price Action Insight: After consolidating near ₹127–₹130 for several weeks, the stock witnessed strong buying momentum, pushing prices above the breakout level of ₹141. Minor profit-booking is visible near ₹143, which is healthy as the price is now retesting its breakout zone — a key area for bulls to defend. A successful hold above ₹141 could trigger the next leg of rally toward ₹156–₹170 zones. 🔹 Indicator Analysis: EMA: Trading above key EMAs; trend confirmation remains positive. RSI: Hovering in bullish territory, showing strength with room for upside. Parabolic SAR: Below price candles, supporting the ongoing uptrend. MACD: Bullish crossover intact, indicating steady buying momentum. 🔹 Volume & Momentum: Volume has been consistent during the recent breakout, confirming genuine buying participation. Momentum remains positive as long as the stock holds above the ₹141 breakout zone. 🔹 Expected Move: Above ₹144 → Targets ₹156 and ₹170. Below ₹141 → Possible retest of ₹130 demand zone before next move. ✅ Final Verdict: BUY on dips or sustained breakout above ₹144 with a stop-loss below ₹127. Overall sentiment remains Bullish, supported by strong indicator alignment and demand re-confirmation.