GAIL has closed above an important pivot level, net resistance is placed at 138 - 140 levels, above which a good and strong move may be seen to 170 levels.
RSI is now spending time in bullish zone while MACD has moved above zero line. Accumulate on dips suggested.
Gail is trading at an inflection point. A strong close above 127 will fuel up the rally whereas any selling pressure at the current levels may push the prices down south again to 110 zones. The RSI is at the bearish extreme zone.
GAIL is broadly moving in the range between 125 TO 149
But presently there is a sudden down move from 149 High..
How to know whether it is part of a corrective move or is it an impulsive move ??
How to know whether the present down move from 149 is an impulsive move or a corrective move ??
To know that we have to check the previous upmove from 125 TO 149