A STUDY ON GAIL
Aggiornato
GAIL is broadly moving in the range between 125 TO 149
But presently there is a sudden down move from 149 High..
How to know whether it is part of a corrective move or is it an impulsive move ??
How to know whether the present down move from 149 is an impulsive move or a corrective move ??
To know that we have to check the previous upmove from 125 TO 149
If you look closely , it took 15 trading days to move from 125 to 149
After that the Down move started
Now if we have to call the next move as impulsive , we have to break the previous low (125) , within 10 trading days (around half of the previous)
Presently it is @ 125 and till now it has taken 26 trading days
Since it took more than 10 trading days , the present down move is a part of corrective and very soon an impusive move will come
So Don't be on Short side on Gail
Dream long on Gail
If you ask me ,
Buy Gail between 121 to 125 for a target of 135
But presently there is a sudden down move from 149 High..
How to know whether it is part of a corrective move or is it an impulsive move ??
How to know whether the present down move from 149 is an impulsive move or a corrective move ??
To know that we have to check the previous upmove from 125 TO 149
If you look closely , it took 15 trading days to move from 125 to 149
After that the Down move started
Now if we have to call the next move as impulsive , we have to break the previous low (125) , within 10 trading days (around half of the previous)
Presently it is @ 125 and till now it has taken 26 trading days
Since it took more than 10 trading days , the present down move is a part of corrective and very soon an impusive move will come
So Don't be on Short side on Gail
Dream long on Gail
If you ask me ,
Buy Gail between 121 to 125 for a target of 135
Nota
sorry - this was on ONGC - not gail
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