July 01, 2016
GAIL (NSE Cash)
BUY
` 379
` 395 - 392
` 425
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 12:15 IST)
Justification:
The stock has given breakout from ‘Inverse Head & Shoulder’ on daily chart in first week of May 2016. Since
then, the stock is moving above the ‘Neckline’ of the mentioned pattern and continuosly taking support of the
same. Recently, the stock has also taken support of the ‘Super Trend’ indicator on dailt chart and rebounded
piercingly. At current juncture, the stock is giving breakout from the consolidation phase of last seven weeks.
The ‘RSI - smoothened’ oscillator is also placed positively both on daily and weekly chart, indicating strength in
the counter. Considering the above technical evidences, we are expecting healthy up move in the counter.
Thus, traders are advised to buy the stock at current levels and on declines upto `392 for a target of `425. The
stop loss for the trade set-up can be kept at `379.
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July 01, 2016
Last 6 recommendations
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Havells
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Booked Profit at 1259
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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