SAIL

I have bought SAIL at Rs 64.75 level. What should I do now? Should I hold or book mi­nor prof­its?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE - - D B Upad­hyay

HOLD SAIL WITH STOP LOSS OF RS 63

SAIL is cur­rently trad­ing at Rs 76.60. Its 52-week high/low stand at Rs 70.75/44.75 made on Oc­to­ber 25, 2017 and Novem­ber 9, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock re­cently broke out of its mul­ti­ple re­sis­tances at Rs 64-65 with huge vol­umes and the 14-pe­riod RSI en­ter­ing above 70 to 75 in a sin­gle trad­ing day. The stock has a po­ten­tial to go up on a con­tin­ued ba­sis or af­ter a pull back up to Rs 64-63 lev­els, which is be­low its 61.8% re­trace­ment of the prior up­ward move. Hence, we sug­gest you to hold the stock for some more up­side, but with a stop loss of Rs 63.

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