GAILF trade ideas
Range breakout in GAIL.Range breakout in weekly timeframe can be seen in GAIL, can be bought at CMP for the above given targets in chart in coming weeks/days OR if you get in 162-165 zone can be a good pick, green dots shows, previously the line has acted as a support line, dot shows that the line has acted as a resistance line. 182 and 194 are the two ultimate targets. Go with a strict stop-loss of level 150 (only on closing below basis)
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS.
Gail Bullish or Bearish? Lets see#GAIL
This is classic case where in 2 logic Mixes.
First Logic - RSI divergence exactly at the Trendline. Previously same thing happened in feb-march, shown by white arrows, where Price fell. Will it fall again? But the sector is bullish...
Second Logic - Ascending broadening wedge or Ascending Megaphone in Daily.
Price closed exactly near trendline. Also there is a gap created exactly 2 years before between 4th June to 6th June 2019.which is exactly above today's high. Will the rally continue and fill the gap?
Take your Pick, what you wanna do..
long and short levels on chart.