Buy GAIL India Nov fut above Rs 378.5; target Rs 400: IIFL

According to IIFL, traders can buy GAIL India November future above Rs 378.5 for the target of Rs 400 with a stop-loss of Rs 368.

“GAIL India has been going through the phase of consolidation and currently landed at support of neckline of inverted head and shoulder pattern placed at Rs 370. However for trend reversal confirmation of the short term downtrend prices needs to form a higher high formation which will be confirmed after prices move above Rs 378.5. The amplitude of pattern projects near term target of Rs 420 on medium term basis. (Duration 10 days), says IIFL research report. FIIs holding more than 30% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. To read the full report click on the attachment

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