ASTL Amreli Steel Limited short term analysis 29th Mar. 2021

Downside Prevails

Our Pivot: 45.00

Our Preference: Short sell ASTL on breakout below 42.00 and average it out till 43.30 with strict stop loss of 45.00 and profit target at 39 with extension towards 38.00.

Alternate Scenario: Breakout above 45.00 will call for 46.65.

NOTE: ASTL have given bearish breakout of its daily triangle and its moving downward after retesting supportive trend line of said triangle.

Chart with supports & resistances: