GAIL FLAG AND WIDGE PATTERN
23 and 24 Feb, had broken resistance of Rs100 with bigger volume and made top of 113 Rs.
On 17th May it tries to break 113 resistance bur it was failed attempt. After that day it had consolidated b/w 110 and 104, till 6th July and on 6th July it managed to close above 110.
In this consolidation period it had formed flag like pattern and widge pattern.
On 7th and 8th July if had traded above widge pattern.
Price is above 20 day EMA is above 50 DEMA which is bullish
MacD is above 0 line and given buy signal.
Conclusion
Buy for target Rs. 130 . i.e 15%.
On 17th May it tries to break 113 resistance bur it was failed attempt. After that day it had consolidated b/w 110 and 104, till 6th July and on 6th July it managed to close above 110.
In this consolidation period it had formed flag like pattern and widge pattern.
On 7th and 8th July if had traded above widge pattern.
Price is above 20 day EMA is above 50 DEMA which is bullish
MacD is above 0 line and given buy signal.
Conclusion
Buy for target Rs. 130 . i.e 15%.
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