Gail (India) ltd on a daily chart stock price is
making higher high and higher low, also its trading above 20 DMA & 50 DMA,
indicate stock is well placed above the support level. On a weekly chart stock price
at Rs. 416.60 has given the breakout of rounding pattern at Rs. 403, if today
stock price closed above the same then coming week rally will continue towards
north, which will take it towards the previous high swing. Momentum oscillator MACD
on weekly chart is on the verge to give positive breakout, which add more
bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 414 for the target of Rs. 464/480 levels, with Rs.391
stop loss on closing basis.
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