Techincal Report:SAIL : LONG TERM BUY/ACCUMULATE

[K.Karthik Raja]

Steel Authority of India Ltd.
Segment: EQ
NSE Code: SAIL
Paidup Value 10
Face Value: 10
Market Lot: 1
ISIN Code :INE114A01011
Listing Date 06-JUL-1995
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Steel Authority of India Ltd. is falling from 260-240 levels in last
few trading

sessions.volume increased gives a potential down side and tested the
low yesterday 152

investment.Technical Indicators showing that the stock looking
"oversold" The Investors are advised to buy/accumulate the stock in
the range of strictly above 165-180 levels for the Long-term target of
200/230. SAIL has the Strong support @ 130-150 levels.There is a 20%
chance to test 130 levels too.(Note:This stock is not for short term &
medium term investors)
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Yesterday Stock Movement
CMP : 160 @ 3.53PM
High: 232.60 Low: 222.60
Open: 228.00 Value: 65.11 Cr.
Volume: 2858089 10-day Avg. Vol: 6706452
Circuit Filters For Next Day: No Circuit Filters
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Stock PERFORMANCE

52-Week Range (Low - High) : 118.00 - 293.00
STOCK PERFORMANCE
-7.09% in 1 Week
-33.69% in 1 Month
17.05% in 1 Year
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Moving Average for the SAIL
SMA-7: 165.49 SMA-13: 179.05 SMA-26: 198.82 SMA-50: 209.99
SMA-200: 208.51
EMA-12: 175.10 EMA-26: 191.25 EMA-50: 206.17 EMA-200: 202.66
MACD: -16.15

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Volume (last/ 5 day average): 19600000 / 16387000
- 5 day RSI: 20 - oversold.(But there is chance for further fall)Need
caution
- 14 day RSI: 30 - no indication.
- Williams % R(14): 9 (summation factor 100)
- Average Directional Index ADX: 39

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F & O UPDATE As on 9th April 2008
Current month futures for SAIL closed at 157.90 (Rs. 0.65 PREMIUM)
with a turnover of Rs. 431.17

Crores.Adds 2106000 shares(9.50%) in open interest pushing the open
interest to 24263550 shares.
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Commentary For Trading/Invesment:
2 day swing: Buy above 166 SL 151
5 day swing: Buy above 173
20 day swing: Buy above 240.
Long Term Investment : Buy/Accumulate 130-150 Target 200/230/260
Alert Note :(This stock is not for short term & Speculators because
risk associated)
All long positions in the stocks should be protected with a stop loss
placed below
mentioned levels on a closing basis.

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Disclaimer
The suggestions made herein are for information purposes and are not
recommendations to any person to buy or sell any securities. The
information is derived from various sources that are deemed to be
reliable but its accuracy and completeness are not guaranteed.The
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