praveen.bhatiya
Short

GAIL Short double Top/Regression Channel Breakout

NSE:GAIL   GAIL INDIA LTD
The stock has nicely formed double top pattern and gave clear breakout. It is also trading out of Regression Channel and RSI trading below 50 is confirming the bearish view. One can short the stock and look for the target of 353 in coming days.
Trade active: Shorted the Future yesterday @ 380.
SIR I HAVE JUST PUBLISHED MY FIRST IDEA....HERE IS THE LINK...


CAN U JUST GIVE YOUR VIEW ON THE SAID IDEA.....
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@GRINDELWALD, Congratulations on publishing of your first idea. Beauty of Technical Analysis is that on the same chart trader may have different view. My views are different. I wish you good success in trading.
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GRINDELWALD praveen.bhatiya
@praveen.bhatiya, THNX...
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sir a sizeable divergence can be seen in rsi too...
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@GRINDELWALD, Thanks for your valuable addition.
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GRINDELWALD praveen.bhatiya
@praveen.bhatiya, THNX....IT'S GOOD TO CONTRIBUTE BACK...
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sir your analysis was correct but the result didn't go as you expected it to be...but i think the reason for the unexpected rise is the news regarding bonus shares distribution by gail....
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@GRINDELWALD, I am still observing the price movement and see if it shows weakness anywhere below the double top area.
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