NiftyMetal is continued to show strength.
1.Sail – Double Bottom – Point A was noticed on 22.11.16 @47.20 , B on 27.12.16 @47.10 , C was on 11.1.17 @56.10 with high volume. Moving average also indicates strength.
Reco: Create long at 56.10 TGT 65.00 SL 47.10 Currently at 59.55 .RSI shows overbought > Hence stock may be watched for one more day.
2. Jindalsteel – Double bottom – Point A 24.11.16 @ 63.80 , B on 26.12.16 @64.60 , C on 11.1.17 @77.30 with High volume. Moving average also indicates strength.
Reco: Create Long at 77.30 TGT 85/90 Resistancenoticed at 85.60 SL 64.60
