GAIL- Relative Strength says BUY!
Updated
Attached: GAIL/ NIFTY 50 Daily Chart as of 12th April 2023
As you can see in the Attached Chart, there are 3 Bullish Signals hinting that the Ratio Chart is likely to Rally Up:
1) Cup and Handle Pattern Breakout (see Green Neckline)..... whose Target is still Pending as the Chart works its way up
2) Falling Wedge Breakout (see Wedge Blue lines)........ this is clear with today's Candle
3) Price (Ratio in this case) Moving Up within the confines of a Channel (see Black Channel)
The Upside Target is shown by the Green Arrow Mark Extending
Being a Relative Strength (Ratio Chart) the Signal we get from this says that GAIL is likely to Outperform Nifty 50 in the coming days/ few weeks
As you can see in the Attached Chart, there are 3 Bullish Signals hinting that the Ratio Chart is likely to Rally Up:
1) Cup and Handle Pattern Breakout (see Green Neckline)..... whose Target is still Pending as the Chart works its way up
2) Falling Wedge Breakout (see Wedge Blue lines)........ this is clear with today's Candle
3) Price (Ratio in this case) Moving Up within the confines of a Channel (see Black Channel)
The Upside Target is shown by the Green Arrow Mark Extending
Being a Relative Strength (Ratio Chart) the Signal we get from this says that GAIL is likely to Outperform Nifty 50 in the coming days/ few weeks
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Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
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