Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "GAIL India is a disappointment. It rallied sharply, a V-shaped rally and then it started falling. That decline could be a correction."
"Now it seems that it has made a small trading range and is likely to breakdown today. This is in anticipation of a breakdown, but a short position can be taken because the market is looking at lower levels," Sukhani added.
The share touched its 52-week high Rs 396 and 52-week low Rs 300.40 on 05 October, 2012 and 26 March, 2013, respectively. Currently, it is trading 15.81 percent below its 52-week high and 10.99 percent above its 52-week low. Market capitalisation stands at Rs 42,291.04 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
