buy gail above 398 tgt 405/415 sl 390
Primary trend of the GAIL is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 398 ; as the stock is managing to trade above its 22, 55 and 200 days moving averages with the RSI of 65, one may expect the targets of 405 /415 in the stock if it manages to sustain above the immediate support level of 390.GAIL gives breakout of its MONTHLY RESISTANCE POINT, for now first resistance level seen on charts at 1465.
Nifty remained lower in the Monday’s
trading session ends at 9166
The Nifty continues to trade under pressure and remains
volatile. It opened with a gap-down and fell to an intraday low of 9,142.
However, the contract reversed higher immediately to make an intraday high of
9,182. It has come-off from the day’s high. Key resistance is in the
9,180-9,200 zone which has to be broken decisively for the downside pressure to
ease. Such a break will take the contract higher to 9,235 or 9,270. It will
also reduce the possibility of a further fall. But, as long as the contract trades below the 9,180-9,200
resistance zone a fall to 9,120 and 9,100 cannot be ruled out. Short-term
traders with high risk appetite can make use of an intraday rise to 9,175 to go
short. Stop-loss can be placed at 9,200 for the target of 9,135. Revise the
stop-loss lower to 9,165 as soon as the contract moves down to 9,150
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