This is a further follow-up to a post I had sent to a forum (called smellthecheese) where I am a member...unfortunately, the forum administrator has been pre-occupied with business travel and as such the follow-up post did not reach the members of the forum...
The targets for SAIL upto 182.4 - they have all been achieved. The original call has thus given a 12.31% return over 5 trading sessions. Caution adviced if long on SAIL. Move towards 197-198 range would be possible if broader market upmove continues.
======== The follow-up mail on SAIL sent to Smellthecheese sent on 20th April 2008
Hello,
THis is a follow-up to my earlier post on SAIL.
The current upmove appears likely to continue for fewmore sessions, as indicated in the attachment.
For those holding positions, recommend moving up thestop loss to 166.10 or 162.45. Minimum target of173.85 still appears valid. If upmove sustains beyond that, may move to 176.80, 182.40.
On a weekly close basis, 38.2% retracement of previous fall gives a target of 197.40. In the process it has to overcome strong resistances in the 182-185 zone,which appears a bit tough under the circumstances. Ride the up move while it lasts, by moving up the stoplosses.
On long term charts, the RSI, WilliamsR andstochostics continue to be in buy zone.
Cheers
Hello,
THis is a follow-up to my earlier post on SAIL.
The current upmove appears likely to continue for fewmore sessions, as indicated in the attachment.
For those holding positions, recommend moving up thestop loss to 166.10 or 162.45. Minimum target of173.85 still appears valid. If upmove sustains beyond that, may move to 176.80, 182.40.
On a weekly close basis, 38.2% retracement of previous fall gives a target of 197.40. In the process it has to overcome strong resistances in the 182-185 zone,which appears a bit tough under the circumstances. Ride the up move while it lasts, by moving up the stoplosses.
On long term charts, the RSI, WilliamsR andstochostics continue to be in buy zone.
Cheers
=============
MY ORIGINAL ANALYSIS POSTED to SmellTheCheese forum on 11th APRIL2008 under the subject "SAIL appears poised for a small upmove"
=============
> --- S wrote:>
Buy triggers are visible on the 1 year charts.
But considering that 50day EMA (204.50) is appearing to be about to go below 200D EMA (now at 202.70), the medium term trend is still down.
However in the short term, a break-out appears imminent bcoz
1) RSI is sub-30 levels, indiciating buy.
2) W%R is in buy zone.
3) Slow & Fast Stoch have given buy signals
4) As the attached chart shows, a downward sloping triangle indicates the downmove may be over, for the moment
ROC still appears to indicate further bearish times On this basis, one can go long on SAIL, if there is a upward breakout above 162.50 (On close basis), for a target of 173.80 (which is 38.2% retracement of fall from previous high 201.05 on 26-MAR-2008
Resistances at 168-170. Beyond 174, if the upmove sustains one can look at a target of 184 (61.8% retracement of previous fall and also, 20D Moving average is situated there presently). Stop losses would be 157.2, 152 and if you can take a risk, 148.
Cheers and happy trading.
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