Technical Pick – GAIL
• GAIL is finding support at 420 and resistance above 430.
•On Daily chart, GAIL is showing breakout point above 430 level.Break and sustain above 430 will see nonstop rally till 440--460++ in weeks to come.
•GAIL has been trading in a broader range of 269--534 for last one year.
•MACD too has given the positive crossover (Buy signal) which indicates that upper side seems certain in it.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 440--460+++mark in coming weeks.
For positional trade, stop loss seeing below 420 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy GAIL above 430 and for the initial upside target of 440--460++ mark with stop loss below 420 on closing basis.
More will update soon!!
