Shabbir Kayyumi
GAIL India has given a decent correction from the peak of Rs 399 to 295 and takes support at its lower levels. Now it has regained strength indicating a positive bias. Double bottom breakout on daily chart also showing strength. Emergence of Bullish engulfing on weekly chart further showing strength.
We anticipate the stock to rise further in the coming days with strength in volume; one can take long position at Rs 335 levels for the target of Rs 360 with stop loss of Rs 320 on closing basis.
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