Robust Trading Volumes Highlight Renewed Investor Interest
On 22 January 2026, SAIL recorded a total traded volume of 1.07 crore shares, translating to a traded value of approximately ₹161.93 crores. This volume is significantly above its five-day average, reflecting heightened market participation. The delivery volume on 21 January stood at 79.78 lakh shares, marking a 12.13% increase over the five-day average delivery volume, which is a strong indicator of genuine investor accumulation rather than speculative intraday trading.
The stock opened at ₹148.05 and touched an intraday high of ₹153.90, closing near ₹152.57 as of the last update at 09:44 IST. This represents a day gain of 3.35%, outperforming the ferrous metals sector’s 2.1% gain and the broader Sensex’s 0.96% rise. Notably, SAIL has been on a consecutive two-day gain streak, delivering a cumulative return of 5.54% during this period.
Price Action and Technical Indicators Signal Strength
SAIL’s price action today hit a new 52-week high of ₹153.75, underscoring the bullish momentum. The stock is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — which collectively indicate a sustained uptrend. The weighted average price suggests that a significant portion of volume was traded closer to the day’s low, hinting at strong buying interest at lower levels and a healthy price support base.
Such technical strength is often accompanied by institutional accumulation, which aligns with the rising delivery volumes. The stock’s market capitalisation stands at ₹60,430 crores, categorising it as a mid-cap entity with sufficient liquidity to support sizeable trades, with an estimated tradable size of ₹5.96 crores based on 2% of the five-day average traded value.
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Mojo Score Upgrade Reflects Improving Fundamentals
MarketsMOJO’s proprietary scoring system has upgraded SAIL’s mojo grade from Sell to Hold as of 23 December 2025, with a current mojo score of 65.0. This upgrade reflects an improvement in the company’s financial health, operational efficiency, and market positioning within the ferrous metals industry. While the market cap grade remains modest at 2, indicating mid-cap status, the stock’s recent price and volume action suggest growing investor confidence.
SAIL’s outperformance relative to its sector by 2.42% today further emphasises its leadership among peers. The ferrous metals sector, including steel, sponge iron, and pig iron, has gained 2.1% on the day, but SAIL’s superior returns highlight its potential as a preferred pick within the segment.
Accumulation and Distribution Signals Point to Positive Outlook
The rising delivery volumes combined with price appreciation and new highs are classic signs of accumulation by long-term investors. This accumulation phase is critical for sustaining upward momentum and reducing volatility. The stock’s liquidity profile supports institutional participation, which is often a precursor to sustained rallies.
Moreover, the fact that the weighted average price is closer to the day’s low suggests that buyers are stepping in aggressively at dips, reinforcing support levels. This behaviour typically precedes further price appreciation as supply is absorbed by demand.
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Sector Context and Broader Market Implications
The ferrous metals sector has been witnessing a gradual recovery, supported by improving demand from infrastructure, automotive, and construction industries. SAIL’s strong volume and price action today mirror this broader sectoral uptrend. The company’s strategic initiatives to enhance production capacity and improve cost efficiencies have also contributed to positive market sentiment.
Investors should note that while SAIL’s mojo grade is currently Hold, the recent upgrade from Sell and the accompanying volume surge indicate a potential shift in trend. However, given the mid-cap nature and market cap grade of 2, investors should weigh liquidity considerations and sector cyclicality before committing sizeable capital.
Outlook and Investor Considerations
With the stock trading above all major moving averages and hitting a new 52-week high, the technical outlook remains constructive. The increased delivery volumes and volume traded near the day’s low suggest strong hands are accumulating shares, which bodes well for medium-term price stability and potential upside.
Nonetheless, investors should monitor sector dynamics, global steel prices, and raw material costs, which can influence profitability. The mojo score of 65.0 and Hold rating imply that while the stock is not yet a strong buy, it is positioned for cautious optimism.
In summary, Steel Authority Of India Ltd. is demonstrating robust trading activity with clear signs of accumulation and bullish momentum. Its outperformance relative to sector peers and the broader market, combined with improving fundamentals, make it a noteworthy stock for investors tracking the ferrous metals space.
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