GAIL trade ideas
GAIL India Eliote wave analysisGail india on its down trend its in its final phase of completing the eliote wave. In one hour chart after a long 3rd wave there will be 3 wave correction it can touch 112 as per my analysis.
GAIl - Positional Long if breaks the Support of 82.5GAIL 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.
GAIL India Triangle Pattern Breakdown Expect-able NSE:GAIL
Two support levels are given as well as a possible resistance level.
GAIL Long Short TermGAIL Chart looks good for upside in the short term. Fundamental reason is forming a hammer on daily and weekly candlestick charts and holding up well in the falling market.
Any failure to move above 85 will induce more correction The stock is into dominant trend down and this pullback seems to be corrective. Now the stock has faced resistance and the momentum indicator is also taking a halt at the bearish extreme. Any failure to move above 85 will induce more correction and the stock may further correct to 65 & 44 levels. However a move above 85 may push the stock further towards 103 & 125 levels.
