April 28, 2016
Gail (NSE Cash)
372 - 369
14 - 21 sessions
Source: Falcon (Chart Time: 09:20 IST)
A recent price movement within the broad range of 375 to 290 resulted into a formation of an ‘Inverse Head
and Shoulder’ pattern on the daily chart. The neckline is placed at 375, which becomes a potential breakout
point of the pattern. Today, we are seeing prices surpassing this hurdle in the initial trade and looking at
overall chart structure with decent volume, we expect this breakout to get confirmed on a closing basis too. The
weekly charts have now turned extremely positive, indicating strength in the medium term
Thus, we advise
traders to buy the stock at current levels and on correction up to
369 for a target of
404. The stop loss for
the trade set-up can be placed at
April 28, 2016
Last 10 recommendations
Recom. Buying/Selling Range
217.50 - 216
175.50 - 173
Revised SL at 177
123 - 125
Exited at 123.50
364 - 361
397 - 394
53.20 - 52.50
400 - 397
607 - 602
Exited at 602
1445 - 1430
Booked Profit at 1537
823 - 815
Exited at 833
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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