GAIL ready for a big move if the resistance is broken Long

GAIL INDIA LTDNSE

Description

⋅ Nov 19, 2020 7:19 AM

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.

Please like and follow.

NSE:GAIL

Comments

rookie_learner

⋅ Nov 22, 2020 4:01 AM

Sir what about 50day moving average on weekly chart at 99 lvl?

sankatradesindia

⋅ Nov 22, 2020 5:09 AM

@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.

sankatradesindia

⋅ Nov 23, 2020 8:23 AM

@sankatradesindia, Well, I hope you took a trade. Fantastic move.

in.apkanodia

⋅ Nov 19, 2020 7:27 AM

dont worry resistance will be broken

sankatradesindia

⋅ Nov 19, 2020 7:45 AM

@IN.apkanodia, I think so too. But you have any inside info? :P

Just kidding.