Very Good breakoutI excepted the breakout after sometime but this is a good breakout from the down trend,
Those who are in losses could average now & those who want to hold for long, now is the good opportunity.
target - 104, 112
Exit between 103 & 104 - safe traders.
For risk traders, SL - 96.80 above that hold till 112
GAILF trade ideas
[Buddha] GAIL Inside Bar TradeLong 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 in first 5 minutes and follow ORB strategy.
GAIL - Sell at 90NSE:GAIL
Target - 80,75
Be Calm and Let price come to you :) Don't ever chase price.
All are Swing trade, so if you want to profit from the analysis chose to buy PUT options for OCT series.
Disclaimer: author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice.
GAIL ANALYSIS AS PER WAVE THEORY
We have a 5 Wave impulse which is a Leading Diagonal forming as such that Wave 1, 2, 3 are complete and now Wave 4 is forming
Wave 4 is a Simple Correction because Wave 2 was a Double Three and now we have a Flat structure forming in the Wave 4;
We see Wave A and B both have 3 Wave structures and now the Wave C the Downward 5 Wave Impulse is forming and we have Waves 1, 2,3 compl-ete and Wave 4 is forming now Wave 4 can go as high as the start point of Wave 2 so anywhere below Rs. 148.75 we can take an opportunity in short and then stay in short and trail till the selling is over.