SAIL Stock Surges to Record High Following Year-Long Consolidation
Stock Radar: SAIL hits fresh record high in April, breaks out from 1-year consolidation – time to buy?
The Economic Times
Image: The Economic Times
Steel Authority of India (SAIL) has reached a new record high in April 2026 after breaking out from a year-long consolidation phase. Analysts suggest that short-term traders may consider buying the stock with a target price of ₹200 within the next 3-4 weeks.
- 01SAIL stock hits a record high in April 2026.
- 02The stock broke out from a year-long consolidation phase.
- 03Analysts suggest a target price of ₹200.
- 04Short-term traders are encouraged to consider buying.
- 05The breakout resembles a rounding bottom formation.
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Steel Authority of India (SAIL) has achieved a new record high in April 2026, marking a significant breakout from a year-long consolidation phase. This upward movement is characterized by a rounding bottom formation on the weekly charts, indicating potential for further growth. Analysts recommend that short-term traders consider purchasing the stock, with a target price set at ₹200 within the next 3-4 weeks. This breakout suggests a positive outlook for SAIL, aligning with broader market trends in the steel industry.
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Investors in SAIL may see potential gains as the stock price rises, which could lead to increased investment interest in the steel sector.
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