Steel Authority of India (SAIL) Ltd.: Buy Steel Authority of India (SAIL), target Rs 70: Anand Rathi - The TheIndianSubcontinentNever miss a great news story!Get instant notifications from TheIndianSubcontinentAllowNot nowYou can switch off notifications anytime using browser settings.RecosLATEST NEWSAfter Market: Jet rises 3%, YES Bank down on share sale talkWe deal mostly in used CVs, fall in new vehicle sales wont impact us: R Sridhar, IndoStarTech View: Nifty breaks rising channel support, signals weakening of uptrendA 25 bps repo rate cut and a neutral stance match perfectly for now: Jayesh Mehta, BofAMLSensex shrugs off RBI policy action, down 192 ptsFO: Option band shifts Nifty50 trading range to 11,500-11,800From May 1, SBI will link loan and deposit rates to repo: Dinesh Kumar KharaRBI behind the curve in cutting rates: Ashima Goyal, PMEACGovt will seek more rate cuts if re-elected: JaitleyDID YOU KNOWUnleash the power of SIP - Invest in Mutual fundsReturns1M 6M 1Y 3Y 14.79% PortfolioLoadingSelect Portfolio and Asset Combination for Display on Market BandShow More Download ET MARKETS APP Get ET Markets in your own languageDOWNLOAD THE APP NOWCHOOSE LANGUAGEENGENG - EnglishHIN - GUJ - MAR - BEN - KAN - ORI - TEL - TAM - ET NOW RADIOET NOWTIMES NOWBuy Steel Authority of India (SAIL) at a price target of Rs 70.ETMarkets.com|Apr 04, 2019, 06.01 PM ISTThinkStock PhotosThe current market price of Steel Authority of India (SAIL) is Rs 58.20.Anand Rathi has a buy call on Steel Authority of India (SAIL) with a target price of Rs 70.The current market price of Steel Authority of India (SAIL) is Rs 58.20.Time period given by the brokerage is three months when Steel Authority of India (SAIL) price can reach the defined target.
Investment rationale by the brokerage: The stock has provided a breakout from the inverse head and shoulders pattern which is a bullish reversal pattern.
The daily, as well as weekly momentum indicator, MACD is well in buy mode.
The initial target comes to Rs 64 which is its 200-DMA as well as the conservative target of the inverse head and shoulders pattern whereas Rs 70 is the aggressive target of the pattern.
The support on the lower side is pegged at Rs 53.Read this article inHindiBuy Emami, target Rs 595: Anand RathiAnand Rathi, Geofin Comtrade not 'fit and proper' to be commodity brokers: SebiBuy Apollo Tyres, target Rs 279: Anand RathiBuy Star Cement, target Rs 123: Anand RathiCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.
Please consult your financial advisor before taking any position in the stock/s mentioned.Browse CompaniesABCDEFGHIJKLMNOPQRSTUVWXYZ|1234567891Buy Steel Authority of India (SAIL), target Rs 70: Anand Rathi Buy Parag Milk Foods, target Rs 366: Elara CapitalBuy Hero MotoCorp, target Rs 2,660: Kunal Bothra Buy REC, target Rs 159: Kunal Bothra Buy Pidilite Industries, target Rs 1,300: Dr CK Narayan Sell Bharat Petroleum Corporation, target Rs 355: Dr CK Narayan Sell Union Bank of India, target Rs 87: Manas Jaiswal Buy Siemens, target Rs 1,220: Manas Jaiswal Buy Asian Paints, target Rs 1,560: Manas Jaiswal Buy GAIL (India), target Rs 380: Kunal BothraBuy Steel Authority of India, target Rs 62: Kunal BothraTo see your saved stories, click on link hightlighted in bold