ASTL Amreli Steel Limited short term analysis 18th Feb. 2021

Further Advance

Our Pivot: 42.10

Our Preference: Start buying ASTL from current price and average it out till 44.60 with strict stop loss of 42.10 and profit target at 52.40 with extension towards 54.15.

Alternate Scenario: Downward penetration of 42.10 will call for 37.80.

NOTE: ASTL is moving in a bullish price channel on weekly and daily chart and right now its above to complete 50% correction of its last bullish rally.

Chart with supports & resistances: