Rajat Bose of rajatkbose.com told CNBC-TV18, "GAIL India yesterday, has crossed a critical level which is the 200-day exponential moving average and now, what it looks like that the kind of volume that GAIL saw yesterday, that shows that this breakout could be for real and I am actually expecting at least a minimum of Rs 430 to be scaled up in this upswing. Even if Gail were to come down a bit, does not matter much because this king of a move actually carries on for some days."
"I would suggest that GAIL should be bought with a stop loss below Rs 404 on closing price basis and it is a short-term trade. Targets are Rs 428 and if Rs 428-430 supply area is crossed then Rs 442 would be the next target to watch out for. The stock seems to be bottoming out. Even the oscillators are also suggesting that," he said.
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