A double bottom has formed and moved up on weekly chart!!
out of 16500kms network of gas transmission 11500kms belongs to gail. A good news is also on the way where govt is trying provide subsidiry on these line which will hlep the books get better and therefore this stock can perform in comming days.
if you are holding don't sell this,It is a buy on dips stock now(the reason for low SL).
on the whole the oil & gas sector is performing good and govt of india is taking a effort to push this sector, therefore i am bullish!
any idea what happened today? do you think it will bounce back ?
SK_tron
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hey brother, how is it actually looking now? any sign of weakness? since yesterday it fell when literally all other energy stocks flew, and today too .. any thoughts?
Adithiyaa
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@SK_tron, hey sk as u know stock don't move in one direction and as i said its a buy on dips so if i find any such i would average it.
bro gail is gas based energy flew because of the ESTIAMTED RAISE IN Demand of Power and also as china is facing power crisis.
SK_tron
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do you expect 170 anytime soon? like by next month half?
Adithiyaa
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@SK_tron, As u know markets are making new highs every other day now...i strongly feel there can be a small correction given evergrande defaults payment again.
and there can be a negative sentiment in markets.
Gail will be stable in this panic and not lose much...but considering the above scenario does not play i expect a 170-175 levels in coming month.
it has a great potential to reach 200 levels in coming months.
SK_tron
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@Adithiyaa, ok brother, will watch out for it, i just have a small doubt, you know when all other stocks in energy sector are performing like ongc, coalindia,
GAIL has always remained sideways with selling pressure coming in whenever it goes up, any thoughts on this? thank you
Adithiyaa
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@SK_tron, yes that's true, gail has been in a pressure for long time..but now its gonna change, as the saying goes every dog has its day likewise every stock has its day based on positive news building around it.
and gail will be getting a lot posivte news in coming time.
SK_tron
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@Adithiyaa, yes hopefully , as i have been holding on to it for long and it makes me sad when literally all others go up like anything lol.