The support and resistance lines are followed by the script. Looks like a good buy at the current price. Target 180 to 190. Stop-loss 138 with a risk-reward of 1:5.
That is about a 27% upward move over 4 to 8 weeks.
Triangle patterns are my strength, but this script is trading near its support zone. Should work out well...
-Can touch 150 in the short term
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Please do NOT consider these as trade recommendations.
I' am an amateur and posting these charts helps me understand the market better.
I' am open for suggestions/advice.
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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
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GAIL
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...
Gail India Ltd Stock about to breakout from Livermore Cylinder Pattern which can be a bullish pattern . So, we can expect the stock may go long.
Please check the chart for details. Mentioned clearly about the support and resistance points (if applicable).
Avoid selling unless you see protentional breakout at the short side.
I am learning as well. so please...
The stock reclaimed its 50 EMA yesterday with above average volume along with downward sloping trendline breakout. The momentum indicator RSI also suggests positive bias along with positive MACD crossover in this counter.EMA CROSS OVER ON daily chart also formed recently
target 170
SL 142
Energy sector showing signs of bullishness.
Nifty Energy was up when nifty was flat today.
Can see good opportunity in GAIL because of following reasons :
Weekly chart shows uptrend in stock
Stock taking support from 20 & 50 EMA on daily timeframe
Can look for entering 50% of your position size.
