Price is trading at a "value high".
Suppose to extend price rotation as drawn in the chart then Spike is ready.
The 30min can close above 148.7 then, 90% chance to make spike for targets 151.5 and 152.25.
While Spike volume should more than average volume, for instance, 2x volume will confirm the spike.
Support at 147
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Gail India has been consolidating from an uptrend for more about 10 months now forming a pennant.
This Pennant has been broken last week. Its certainly worth checking the breakout is sustainable and then join the LONG ride!
Gail India : Has formed Shooting star candle stick pattern after good up move. This is a bearish pattern.
Also noticed it has rejected 200 EMA which adds more confidence of expecting weakness in this counter.
If starts trading BELOW Friday low then this patter is valid.