GAIL has been following clear trends since December' 2020.
Recently, very positive earnings were released. Massive buy volume to be expected. Price recently took support on 100 MA cluster on daily TF. . On smaller TFs, bullish divergence can be viewed on RSI as well. After a long consolidation since June'21, the stock looks ready for upside move. Increase in average trading volumes can be seen.
Break of short term Structure (T3) and Daily Close Candle above 157 (R1) can yield targets of 170+ (R2) (Target 1) If the weekly resistance line (T2) is respected targets of 200+ are possible (Target 2)
Estimated time for price to reach target is mentioned in the charts.
I'm a beginner here. Would love to hear all suggestions and feedbacks if anyone has any. <3
@SK_tron, It is facing rejection from the short downward trendline. Looks to me like consolidation. Also it has taken support from 100 MA cluster on Daily TF. Go Bearish only after a strong closing below long term trendline. Anything apart from that is just final consolidation before beginning of the sharp uptrend.