In Gail the upside move will be more clear only if 386's zone convincing get crossed but we are entering based on Breakout & the pullback from today's high ( 5 mins can't be posted here ), so with the same triangle logic entry. But for few the uncomfortable thing here is, it didn't cross the resistance zone ,so doubts will arise. When uncomfortable or doubtful ...
After the continuous selling in GAIL, now probably it may look for a pullback around 38.2 Fibonacci Level. Entry can be at 380-382 Range if price action seem bullish, if it trades below the low of the previous candle (379.80), Be patient and wait for the price to cross above 380 level to enter. Trade has a good Risk/Reward.
The CNXENERGY index is showing ominous signs. These stocks haven't been doing too well recently but have enjoyed a sustained uptrend. It's time for reversal now. The fundamental picture is not at all good and this move downward is just getting started. For more thorough analysis, check out my daily NSE dashboards at http://rpubs.com/kausti
I think, Am bored today... charts coming up one after other or I'm not sure whether I'm seeing setups easily today. Anyway here is another Gail for you, as usual go with your plan. Just note how simple elliot counts can help our trade setups, so people worrying that we dont know complex elliot's, there is nothing to worry about that !
I m not sure whether old strategies in the trunk Got Me or I Got that, but now another trade setup in Gail, as this charts are like Holi colors, Gave away approx stop, target , Entry zone. Check with your plan before trading. But as far as now, Gail : I Got You :) Note : That's a song by Bebe Rexha ( I got you ) with some fantastic beats, enjoy if you have time !
Strategy: Buy the dip of 355 --------------------------------------- GAIL is trading in consolidation mode after hitting it's target of 400+. We were long from 325 and book profit at 390. We are calling consolidation from 374.90 price and expecting this consolidation will be zigzag correction and can extend to 355.