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
Gail has completed impulse wave of some degree as 1 to 5 and now is in correction phase likely to be a b & c, as per our view, there could be a good probabilities of price to go down towards 125 to 130 zones, if situation goes as presumed then we can get any one trading opportunity from two options mentioned below. First trading strategy option is sell on rise...
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 Break Its Support on 1H Time Frame and Retested Its Support
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.
On the Weekly chart, GAIl breaks its resistance and holding its position above 150 Which means it will test again 170 in the near term. Short-term Target: 165 with stop loss 148 Long term target: 170 with no Stop loss. If any time, the share goes below 148 level, buy on a dip strategy will follow. the time frame 1 year.
I hope you can now see how Gail represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Thank You Disclaimer: It should not be assumed...
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.