ISL International Steels Ltd Short-Term Analysis 15th Jul. 2020

Under Pressure

Our Pivot: 62.00

Our Preference: Start short selling ISL from current price and average it out till 60.10 with strict stop loss of 62.00 and profit target at 56.00 with extension towards 54.80.

Alternate Scenario: Upward penetration of 62.00 will call for 64.00.

NOTE: ISL is facing rejection from resistant trend line of its rising price channel on daily chart along with a strong horizontal resistant region.

Daily chart with supports & resistances: