Gail has given a nice bullish rally after crossing the previous ATH of 131.5.
There has been a 30% bullish rally. It has formed a double top and once it starts trading below 155.80 level it will confirm a "M" pattern too,
Today there was a nice sell of in the stock and it closed 5.5% lower with good volumes.
Even the RSI indicator is showing a bearish...
MAJOR POINTS : 125 , 150,172
important points are 362, 383
: entry & exit is very important
: try to manage money management
: know your stop loss
: find the chart pattern / analysis the chart before you enter
GAILis trading under pullback…
According to Study there can be :-
Target 1 -150.00
Target 2 - 148.00
Target 3 - 144.00
From Target 1 or 2 can be a New Upside impulse generator point.
We have a 5 Wave impulse which is a Leading Diagonal forming as such that Wave 1, 2, 3 are complete and now Wave 4 is forming
Wave 4 is a Simple Correction because Wave 2 was a Double Three and now we have a Flat structure forming in the Wave 4;
We see Wave A and B both have 3 Wave structures and now the Wave C the Downward 5 Wave Impulse is forming and...
