Gail has completed impulse wave of some degree as 1 to 5 and now is in correction phase likely to be a b & c, as per our view, there could be a good probabilities of price to go down towards 125 to 130 zones, if situation goes as presumed then we can get any one trading opportunity from two options mentioned below.
First trading strategy option is sell on rise with stoploss of 163
Second trading strategy option is if price does'nt rises then sell only below this black line with breakdown candle's high as stoploss
two trading strategies are possible to trade
volume comparision bearish divergence in macd and price bearish divergence seen in rsi & price macd in weekly bearish macd in daily is bearish and also below zero line
Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing