Note: This is for educational purpose only. There seems to be a W - double bottom pattern formation in play. Moreover, there seems to be a bullish hammer formation at long term support. If the W top is broken with high volume, there will be more upside.
Price making symmetrical Triangle and currently at the support. 95 was a good buy with small stoploss. Expecting price to break the resistance in the coming week.
GAIL - Bullish setup 4 hour chart analysis Harmonics Pattern Hope my Chart Helps !!!!
Gail is following a trend and it broke an year old resistance line. Support and resistance lines are drawn so place your trades accordingly. Well in weekly charts it has formed hanging man candlestick pattern which in uptrend is a reversal pattern.
Note: This is for educational purpose only. There is a build up near resistance in GAIL. Moreover, there is ascending triangle with RSI above 60. Seems bullish momentum.
Looking at GAIL higher highs / higher lows and sector growth from past couple of days ... Once sustains above 97, we can see targets of 100/105/110/115 Pls add to watch list
GAIL has been showing good bullish momentum since past 3 weeks (Check weekly chart). Price has now come near to resistance area, but there is a gap of 2-3 points which needs to be filled until a trade can be executed. I only go long in stocks which are trading above their 50EMA and GAIL has recently crossed that level so the trend is in our favour. Risky traders...
can move to 88 to 90.5 levels if breaking 85.3 in couple of sessions
GAIL has formed a W pattern on Daily TF. 82.5 was monthly support that got broken, and is now acting as resistance. same has been tested more than 4 times on 75m TF. if 82.5 is broken by a clear Covering Candle on 60m / 75 m TF - Can go long positionaly with 82.0 as SL.