Gail has been trading in a range for almost 4 months and in a smaller range for 40 days. Its trading around the support zone of 102-104.
The stock has consolidated very well and can give either side break. Though on the daily time frame, the stock is trading between both the moving averages and is taking support from the zone forming dragon fly doji near it.
It has formed an inside candle and on the hourly chart, there is a bearish moving averages cross over.
Fundamental too the stock looks good and will give nice returns in coming years. The dividend yeild of the stock is also better.
Target (bullish) :- 108.2, 112
Stop loss :- 102.5
Enter after seeing the price action. If stock price starts trading above the previous day high long positions can be created and accumulation of long term can also be done at the current price levels.
Wait for the price action near the levels before entering the trade.
The stock has consolidated very well and can give either side break. Though on the daily time frame, the stock is trading between both the moving averages and is taking support from the zone forming dragon fly doji near it.
It has formed an inside candle and on the hourly chart, there is a bearish moving averages cross over.
Fundamental too the stock looks good and will give nice returns in coming years. The dividend yeild of the stock is also better.
Target (bullish) :- 108.2, 112
Stop loss :- 102.5
Enter after seeing the price action. If stock price starts trading above the previous day high long positions can be created and accumulation of long term can also be done at the current price levels.
Wait for the price action near the levels before entering the trade.
