Essar Steel - Hot Stock Pick for Indian Investors

#11
Re: Essar Steel

jaideep said:
Latest news predicts good results for ESSAR STEEL. Their HR coil stock position is good & so is their gas availability. That means good productivity all the way.

Am holding some stock @ 29.50 & expecting a push upwards & a breakthrough past the psychological 30.00 barrier. If I am correct, give me an idea pls on a realisitic target. Would 34.00 be so ????

Thanks for your support & guidance in advance.
Once the stock breaks out of 31.00, we should see a Essar Steel going upto 34.00-34.50 and then upto 39.00.

Make sure to keep your stoploss at 25.00
 
#12
ESSARSTEEL making a move from 25.45 on Monday 30th Aug to 28+ (high) today. Is it a breakout indication? Am holding quite a few shares @ 29.50 & am wondering whether I should wait for the 31+ breakout as you advised earlier. Please advise as your guidelines are "bang-on" TradersEdge.
 
#13
jaideep said:
ESSARSTEEL making a move from 25.45 on Monday 30th Aug to 28+ (high) today. Is it a breakout indication? Am holding quite a few shares @ 29.50 & am wondering whether I should wait for the 31+ breakout as you advised earlier. Please advise as your guidelines are "bang-on" TradersEdge.
Yes, Essar Steel sure does look like just beginning a new uptrend.

However one will have to wait for a close above 31.00 to confirm the next big move.
 
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