top gainer-SAIL above 43 remain buy target 47.6-52.5

Steel Authority of India Limited future chart Steel Authority of India Limited stock is trading at 44.75 with almost 7% gains for the day. Stock is top gainer in future and option segment.   Stock has given strong reversal from 41 rupee level and trading strong with bullish breakout above 43 rupee resistance. For June series, stock above 43 remain bullish and buy for targets 47.6 and then 52.5.   Below 43 downtrend will start once again. From medium term view, 41 rupee was strong support and stock had taken it for targets 45 and 48. Above 48 expect long term downtrend breakout for upside targets of 80 to 100 rupees.   Future traders with long positions must trail stop loss below 43 and keep target at 47.6 and then 52.2. Option traders can use SAIL 45 call options as buy and accumulate with stop loss.

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Pramod Baviskar

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