ISL International Steels Limited Short-Term Analysis 12th Jan. 2021

Under Pressure

Our Pivot: 96.85

Our Preference: Start short selling ISL below 92.80 and average it out till 94.40 with strict stop loss of 96.85 and profit target at 87.90 with extension towards 85.65.

Alternate Scenario: Upward penetration of 96.85 will call for 99.20 and 100.30.

NOTE: ISL is caged in a triangle on hourly chart and is moving downward after completion of its bearish correction.

Chart with supports & resistances: