Technical Outlook & Trading Strategy:-
The share price of Bank of India Steel has closed right above its support level of Rs 380.
This is an important support level. With the price decline over the past few sessions, there are indications that the stock price might violate this support in near future. Traders should look to initiate short positions on a breakdown of Rs 380 for price targets to levels of Rs 365 / Rs 355.
We recommend all sell positions be protected with a stop placed above Rs 391.40 levels.
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