Stock Information Portal

Price and trend forecast of SAIL for Tomorrow, Weekly, Monthly

Steel Authority of India Limited

Symbol: NSE:SAIL

ISIN: INE114A01011

155.35

As on 2024-04-12

80.45 (52W Low) 156.60 (52W High)

SAIL's Today's Performance

Steel Authority of India Limited started the day by opening at 153.15 today 2024-04-12. Its shares reached a high of 156.60 and dipped to a low of 151.50 in intraday. When the markets closed, SAIL’s stock price settled at ₹155.35 per share. Also check out its key support and resistance levels.

SAIL Buy/Sell Targets

Tomorrow, buy SAIL when its price reaches ₹ 155.35 with a stop-loss order at ₹ 152.57. You can set the target price as ₹ 158.13 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of SAIL for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for SAIL

Resistance Levels Value in ₹
Tomorrow Resistance 1 157
Tomorrow Resistance 2 160
Tomorrow Resistance 3 163

Important Supports for SAIL

Support Levels Value in ₹
Tomorrow Support 1 152
Tomorrow Support 2 149
Tomorrow Support 3 147
Based on where the stock opens tomorrow, if SAIL opens on a positive note, our first target will be ₹157. If Target 1 is achieved, we will aim for Target 2 which is ₹160.

But if SAIL falls below the average value of ₹154.48, you can enter a sell side position with target number 1 - ₹152 and second target - ₹149 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of SAIL

Looking at SAIL, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, SAIL has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for SAIL is moderate bullish.

Tomorrow's Volume based share price Forecast for SAIL

SAIL's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is 50%.

Reversal detection for SAIL

Predicted trend chart of SAIL tomorrow for price forecast
SAIL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹154 in morning tomorrow
Target 1 tomorrow156
Target 2 tomorrow158
Target 3 tomorrow160
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with SAIL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if SAIL opens on a positive note, our first target will be ₹157.47. If Target 1 is achieved, we will aim for Target 2 which is ₹159.58.

But if SAIL falls below the average value of ₹154.48, you can enter a sell side position with target number 1 - ₹152.37 and second target - ₹149.38

SAIL's Weekly Targets
1st Up Target 159.70
2nd Up Target 164.05
1st Down Target 147.90
2nd Down Target 140.45

As the week for SAIL ended on bullish sentiments, we can expect further continuation of this sentiment. SAIL's initial target will be 159.70 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 147.90 in the upcoming week.

Weekly OHLC Values
Open 147.30
High 156.60
Low 144.80
Close 155.35

Week for SAIL started with an open price of 147.30, and the close was at 155.35. SAIL reached the highest of 156.60 and dipped lowest up to 144.80 last week. This indicates a bullish sentiment for the week.

SAIL full month swing targets
Monthly Up Target 1 171.50
Monthly Up Target 2 175.85
Monthly Down Target 1 136.10
Monthly Down Target 2 116.85

Targets of ₹171.50 can be expected to be reached in the coming month. Once SAIL achieved this target, we can aim for the next upside target of ₹175.85.

SAIL if fails to hold upside, down targets of ₹136.10 and ₹116.85 can be achieved by end of this month.

For complete three weeks if SAIL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as SAIL

Symbol Name Industry
ULTRACEMCO UltraTech Cement Limited Building Materials
ASIANPAINT Asian Paints Limited Specialty Chemicals
JSWSTEEL JSW Steel Limited Steel
TATASTEEL Tata Steel Limited Steel
GRASIM Grasim Industries Limited Building Materials

Summary

SAIL is expected to reach the target of 157.47 in tomorrow's trading session.

After achieving the initial target in SAIL, we will aim for higher targets of 159.58 tomorrow.

However, if SAIL starts to trade below ₹154.48, then we will shift our focus to the sell side and aim for down targets of 152.37 and 149.38.