Gail on the weekly time frame has closed above both the moving averages but is near a resistance.
The stock even on the daily time frame has crossed the 200 ema and closed above it.
The stock has also given a break out of the consolidation box.
3 point confirmation.
1. High volume box break out.
2. Closed above 20 and 200 ema on weekly time frame.
3. Closed...
Hello gail india short term swing trade buy above: 156 target: 170 stoploss: 153.
LOGIC BEHIND TRADE: Stock has formed W pattern on 4 hr chart & given breakout of dynamic & static resistance, breakout buying strategu (Target identified from harmonic xabcd pattern level 1.414) stoploss is taken low of resistance candle. NSE:GAIL
Gail (W):
1. Breakout (with good volumes) and retesting has been done
2. Took support at 61.8 Fibo Levels
3. Also closed above 13 Weeks Exponential Moving Average
Gail (Daily):
1. Symmetrical Triangle Breakout
2. It has also retested its Breakout (Formed a higher low)
3. Also bullish candlesticks patterns like Inverted Hammer and Bullish engulfing has been...
Gail has formed a Double Top pattern on the daily time frame and we have seen the breakdown on Friday, One can sell around 136 for the target of 105-103.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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 long above 165 good for 181.
There is a gap that will fill up so we can expect a target of 181, the next target should be around 190 and then 197.
Please share your views on my analysis.
This is only for educational purposes.
GAIL is at a strong support right now. It has tried to break this support multiple times but has failed. If it does break from here, it could melt down to 69 levels.
If it reverts back, this could be a good entry point as the support will act in again.
