August 05, 2016
GAIL (NSE Cash)
BUY
` 369
` 380 - 377
` 400
5 - 10 sessions
Daily Chart
Source: Falcon (Chart Time: 11:35 IST)
Justification:
Since last three months, the stock has been consolidating in a range of `365-402. Prices are currently trading
near the daily ’89 EMA’ support which coincides with the ‘SuperTrend’ indicator. The ‘Stochastic’ indicator on
daily charts has given positive crossover from its average in oversold zone. As per the ‘Fibonacci Time Series’,
the stock has entered a new time zone yesterday which we are anticipating to be bullish. Considering the
above mentioned reasons, we are expecting the stock to move higher in near term. Hence, traders are
advised to buy the stock at current levels and on a correction up to `377 for a target of `400 in next 5 -
10 sessions. The stop loss for the trade set-up can be kept at `369.
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August 05, 2016
Last 6 recommendations
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M & M**
BUY
1462 - 1456
1460
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Active
Source: Angel Research
**Dividend of ` 12/share adjusted
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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