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SAIL (₹89.6): Buy April 06, 2021 Steel Authority of India Ltd’s Rourkela Steel Plant - Bloomberg× The stock of Steel Authority of India (SAIL), that ended the year 2020 on a high, saw considerable price correction in January 2021. That is, the price dropped from about ₹80 to ₹55 levels, losing about 31 per cent during that month. But the scrip quickly reversed and started to move upwards. The scrip gradually gained, and it again faced a correction after reaching ₹80 levels in early March, though the price drop was minor. This time, ₹70 (where 50-day moving average coincides) acted as a strong base on the back of which the stock was able to build momentum. Consequently, it appreciated and last week it decisively breached the resistance of ₹80. Extending the rally, the stock went up on Monday as well with good volume. ....