September 01, 2017
GAIL (NSE Cash)
BUY
` 377
` 386 - 389
` 410
14 - 21 sessions
Daily Chart
Recent congestion zone
Source: Falcon (Time: 11.00 IST)
Justification:
This stock has been a laggard since last four months within the ‘Oil & Gas’ space. Recently, we witnessed several attempts to
move out of the congestion zone; but, every attempt got sold into. Today, we can see yet another effort to do so; but this time
it is backed by decent volumes and hence, we are expecting it to get succeeded in this. In addition, the placement of
momentum oscillators on daily time frame is encouraging, providing credence to this move. Thus, we recommend buying
this stock at current levels and on corrections up to `386 for a target of `410 over the next 14 - 21 sessions. The stop
loss should be fixed at `377.
Sameet Chavan
022-3935 7600 Extn: 6552
1
September 01, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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