SAIL has support at Rs 149-150: Thacker

SAIL has support at Rs 149-150, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "SAIL had been underperforming the broader metal sector for sometime now. Today technically it has opened gap down, so there is a negative price gap on charts. If you recall the chart, immediately after the elections 2009, SAIL made a low of about Rs 150-149; I think that is a good support area. My belief is that over the next few days, we will see prices head towards that direction. I think at Rs 150-149 we might see some good support coming in." The company's trailing 12-month (TTM) EPS was at Rs 14.59 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 11.24. The latest book value of the company is Rs 80.66 per share. At current value, the price-to-book value of the company was 2.03. The dividend yield of the company was 2.01%.