FORMATION OF HAMMER ON LOWER LEVELS IS VERY BULLISH..COMING WILL GIVE GOOD RETURNS.
ANY BREACH BELOW 303 ON CLOSING BASIS IS VERY GOOD TO GO LONG.
RESISTANCE AT 313.65* ONCE BREACH , THEN IT WOULD FIRE UP
DOWN SIDE IS VERY LIMITED..ONLY ACCUMULATION NOW , NO SHORT ADVISED
Long if it breaks 312.50 with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Bullish Bat pattern on Daily Chart of GAIL. BUY 311-312, SL 305.5, Target(s) - 319, 323.
I starting learning Harmonics some days ago and just observing currently, how the price action works here and thereby trying to refine on my Target(s), SL and entry levels.
Gail India has been consolidating from an uptrend for more about 10 months now forming a pennant.
This Pennant has been broken last week. Its certainly worth checking the breakout is sustainable and then join the LONG ride!
GAIL SHARE PRICE IS AT RESISTANCE LEVEL OF 365.
LOOKING INTO THE MONEY FLOW CHART, IT APPEARS THAT THERE COULD BE PROFIT BOOKING AT THESE LEVELS.
THE SHARE PRICE MAY COME UP TO 347 (STOP LOSS 366).
IF A STRONG CLOSING ABOVE 365 HAPPENS, THEN THE NEXT TARGET IS 379.
(FOR DIRECTION PLEASE SEE THE CRUDE & GAS PRICES).