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...
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 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.
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 .
Disclaimer: It should not be assumed...
GAIL (India) Ltd is India`s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.
Though the International Natural Gas Prices acts as the LEAD INDICATOR for GAIL Share Prices.
Don't take my word for it, go and check...
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.
Already touched Demand Zone.
Buy in progress.
Buy on dips.
Higher Highs and Higher lows .
Seems like range breakout to happen in comming few days along with Volume. Expecting a outstanding result.
My personal view.