sankatradesindia

GAIL ready for a big move if the resistance is broken

Long
NSE:GAIL   GAIL INDIA LTD
GAIL had previously broken down from a head and shoulders pattern at current levels.

Going by theory, the same point will now act as a resistance. If this breaks, there could be a move towards 105 for GAIL .

One more point that nudges in the direction is the formation of the above average volumes. Also, higher highs and higher lows.

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NSE:GAIL

Comments

Sir what about 50day moving average on weekly chart at 99 lvl?
Reply
sankatradesindia rookie_learner
@rookie_learner, I just looked at the weekly charts of GAIL and there are two very strong candles in the last two weeks. With good volumes. I would expect it to sustain the run. I think I mentioned the idea around 95 and it made a high of 98. Still see some more upside on this stock. PSUs are also getting re-rated.
Reply
sankatradesindia sankatradesindia
@sankatradesindia, Well, I hope you took a trade. Fantastic move.
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dont worry resistance will be broken
Reply
sankatradesindia in.apkanodia
@in.apkanodia, I think so too. But you have any inside info? :P

Just kidding.
Reply
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