The Gail India has breakout in the last market hour forming the falling wedge pattern and consolidating for pullback.
The candlestick has already crossed the 20 SMA in Bollinger band showing the downtrend. If the Gail India doesn't reverse the trend when the pullback is formed we can short sell it.
If it reverse the trend, it can again form the sideway trend...
Upside Movement Expected till next marked resistance, Here smart money is continuously trapping retailers so don't keep your stop-loss too tight give some space to your SL else will regret it later.
GO AND BUY GAIL ABOVE 155 RS
once it closes above 155rs on daily chart this script can show you 167 to 180rs
sl will be 135rs
stock is being accumelated by big players and has good volumes.
targets in 2 to 3 months will be 180rs
only go long on gail above 155rs
its my personal view based on technical analysis.
Disclaimer: I AM NOT A SEBI REGISTERED ANALYST AND...
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...
The company recently release their quaterly results. The results are very good. At the same time stock was in down trend but from few recent days stock gave a trendline breakout and also retested the trend line and now moving in upward direction. before some days it was near 200 exponential moving average and from that day it is moving upward. On 6th of...
GAIL is an uptrend currently near bottom of Elliot wave. Technically looks strong for an upward move upto 175
Strong Support around 145 would also let some time to kool off RSI OverBought for Jump seen during Results.
Fundamentally, GAIL has 85% of its revenue for Natural Gas Trading and Transmission/Distribution.
With Natural Gas making higher highs of above...
1. One year time frame, the stock is uptrend.
2. Formed ascending channel.
3. FIIs has increased 8.5% their holding in June 2021 Quarter.
4. Company excepted to give good returns near quarters.
Disclaimer : This is NOT investment advice. This post is meant for learning and educational purposes only.
