Gail is trading at Strong support zone. For over a week Gail has attempted to break down this area, but didn't quite make it.
Now, that the candles too are suggesting an incoming buying pressure from this Strong area.
Gail could probably bounce back to 135 / 140 levels in the coming days.
One can look for buy set up and look to trail your stop near take profit as 1st target and wait for price to make strong move out form the
structure , if moved out then look for trailing the stop on daily close basis and book near target using trailing exit method
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
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...
Trend continued to be in bearish territory on back of EMA (20 EMA below 50 EMA). Recent correction from the resistance of 140 level where roof of the downward trend line hovers.
On contrary, as MACD above zero expect the price to find support around 120 levels. In the recent past, the price comfortably found support around the same level twice.
Expect a bounce...