Break out over 113-114 levels will lead to further gains...
There are tailwinds in form of gas price fixation and summer energy consumption
long term tail winds in form of greener options
Attached: GAIL/ NIFTY 50 Daily Chart as of 12th April 2023
As you can see in the Attached Chart, there are 3 Bullish Signals hinting that the Ratio Chart is likely to Rally Up:
1) Cup and Handle Pattern Breakout (see Green Neckline)..... whose Target is still Pending as the Chart works its way up
2) Falling Wedge Breakout (see Wedge Blue lines)........ this is...
Technical Observations:
1) Cup & Handle Formation (Daily Framework)
2) Falling Trendline has been Broken & the Price has made a healthy retracement.
3) RSI at a Healthy 60.82 Zone
NSE:GAIL
Ps: Not a Buy Call/Investment Advice - Market Analysis Idea Sharing Only - Please Do Your Own Research.
Happy Investing, Stay Safe & Protect Your Capital
FOR EDUCATIONAL PURPOSES ONLY
#GAIL
Looks Bullish Above : 96.
Weak if close below :95.30
TargetS 99.40 & 103.55
Take advice from your financial advisor before investment.
Only for educational purpose.Not a recommendation
Gail , an integrated natural gas and liquid petroleum gas marketing company having a 70% market share in natural gas marketing . Have a support in 99 .If it goes above 102 then we can expect a good move .
gail buy (85)price wait for retsest then buy swing Trading
majar support 0.50% levels you can wait for retest
stop loss 0.38% below put on your stop loss
wait for 15 min candle closing.
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
timeframe: 15min
both side potential but i am biased in short side if breaks the level
BOX is no trading zone
follow risk management
do not overtrade
accept stop loss with pleasure and close for the day
