LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis
NSE:GAIL
On Daily Time frame it has broken 21DMA with Gap up and with good volume on 06-08-2021.
Also on 05-08-2021, we saw sudden sell off in 2nd half. But RSI made minor lower high while price action made huge lower low. This was a bear trap and panic sell off before the results. Results announced by the evening and it was good results.
Simple Trade Setup...
GAIL is an uptrend currently near bottom of Elliot wave. Technically looks strong for an upward move upto 175
Strong Support around 145 would also let some time to kool off RSI OverBought for Jump seen during Results.
Fundamentally, GAIL has 85% of its revenue for Natural Gas Trading and Transmission/Distribution.
With Natural Gas making higher highs of above...
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Risk:Reward: 5-7 times.
A small breakout can be expected in GAIL as shown in chart.
Duration 2-3 sessions, ROI~15%
Conditions:
Level to hold- 157
Straight Target- 183-185
NFA. Do your own research before following.
Gail reached marked target of 168/-
Once crosses 169-170 next target 181/-
Target suggested on the basis of gap filling.
Let me know your views.
.
Learned technical analysis at Patil share market institute Aurangabad, Maharashtra.
