This stock took a nosedive on April 7th after a strong run, closing at $104.53—way below its 9 and 21-day EMAs. 📉 The RSI plummeted from overbought (90+) to neutral (~46), signaling exhaustion after a rally. Volume spiked on the drop, suggesting panic selling. Short-term trend is bearish, but if RSI dips below 30, it might be a buy opportunity. For now? Hold or wait for stabilization—this feels like a correction, not a crash. 🚀➡️🛑

"Alright, let’s spill the tea ☕—no major news to shake things up, but the stock’s been flexing lately! WMAs are climbing like a stairmaster, and RSI’s chilling in the 60s—warm but not sweating yet. Volume spiked on that May 14 rally, so someone’s buying the hype. Chart’s got a little ‘two steps up, one step back’ vibe, but the trend’s still your friend. No drama? No problem. BUY the dip and ride the wave. 🌊 #QuietButDeadly"

Steel Authority of India Limited, a steel-making company, manufactures and sells iron and steel products in India and internationally. It offers rails, long rails, blooms, billets, slabs, channels, joists, angles, TMT rebars, wire rods, crane rails, plates, pig iron, and coal chemicals; narrow slabs; wheels and axles; and plate mill plates, HR plates, HR coils, CR sheets/coils, plain and corrugated galvanized sheets, ERW pipes, spiral weld pipes, and CRNO. The company also provides GP and GC sheets, galvanized steel, HRPO, bars and rebars, Z-bars, MS Arch, cold-rolled stainless steel, hot rolled carbon and stainless-steel products, micro-alloyed carbon steel, and alloy steel squares and rounds. In addition, it offers wear resistant plates, forgings, carne wheels, forged rolls/plates, stainless steel slabs, special steel, and rolled and forged alloy products; and high/medium/low carbon ferromanganese, and silico-manganese products. The company was founded in 1954 and is based in New Delhi, India.

Steel Authority of India Limited SAIL.NS: 124.16 INR

Bullish views

Bearish views