PL Technical Research: BUYSAIL - TECHNICAL PICK

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY SAIL 87 STOPLOSS 82 TARGET 100 - TECHNICAL PICK

SAIL has witnessed a decent correction from 103 to 80 levels and has made more or less a double bottom formation in the daily chart. It is poised to rise in the upward direction with potential and strength, and we anticipate it to go till around 100 levels. The RSI is showing a steep trend reversal from the highly oversold zone. With the volume participation decent and the chart looking attractive, we recommend a buy at current levels and in decline for an upside target of 100, keeping a stop loss of 82.