good time for long term investment in this.
For intraday, a clear break above the orange line could send it to the red line above. Support at green line for longer term perspective.
As expected, we saw selling in GAIL India today and we found a new zone for price acceptance which is our overhead resistance zone now. In the longer time frame, we are still above the neckline but it is looking weak. a break of the neckline would confirm trend reversal. However, we seem to be headed for a trend reversal. We might head to our support at 336 and then at 331 tomorrow. For intraday, 346 ish region is ideal to take position if we get there with trailing stop losses. Over all I am still bearish on GAIL India