Gail India Ltd.
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Expiry Strategy Nov: Sell 115 Put @ 0.75. Lot Size: 5334Trend 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 back in the coming days so Nov expiry would above 120 levels.
As I always believe in option selling rather buying based upon the trend, prefers Sell 115 Put around 0.75 level.
#GAIL Hourly Setup . Close above 125 is Bullish . #NSE #NIFTY50 #GAIL has came out of SELL Line . Now Struggling around Resistance placed at 125. A positive close will give more upside .
TRIANGLE BREAKOUT...IF GAIL CLOSE ABOVE 138 THEN OPEN FOR
FIRST TARGET @ 151
SECOND TARGET @ 158
STOPLOSS @127.5
GAIL Long @ Rs. 126 NSE:GAIL Long @ Rs. 126
Entry 126
Target 139.9
SL 121.9
Hold for one week. Expected Gain 139.9-126 = 13.9 / 126 = 11.03 %
GAIL Weekly Sell Pullback Failure !? Whether it will continue ? After making a High of 150 in th eprevious month . #GAIL is gain back to 119-123 levels . This level coincides with 38.2% retracement of previous swing (72-200) . It will be interesting to see whether #GAIL holds the level and fails SELL Pullback . NSE:GAIL
Consolidating, grand EW waves completion is yet not confirmedIf the stock manages to close above 128.40 in short term and remains bullish, then the next target will be 146.25. However if the stock somehow closes below 119.50, then the stock may see a low level of 101 in intermediate term. If the consolidation continues around the present level, the stock may come out of bearish shadow by mid-February'20
GAIL is on Monthly support upward channel.On looking the chart of GAIL , we found that the stock is just trading on its Monthly uptrend support channel and traders may wait for a either side breakout with volumes.
