Strategy: Buy the dip of 355Strategy: Buy the dip of 355
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GAIL is trading in consolidation mode after hitting it's target of 400+. We were long from 325 and book profit at 390. We are expecting this consolidation will be zigzag correction and can extend to 355. Break of current price 375 will expose to 364 and post that 355.
GAIL trade ideas
GAIL (BSE): Elliottwave analysis: Looking for re-entry for targeTalking Points:
Technical Strategy: Bullish Bias
Elliottwave Count: Impulsive nested count .
HTG Note:
Current price action on GAIL (BSE) is trading on impulsive nested bullish move. Script was able to break and testing it's monthly horizontal resistance. In larger monthly timeframe, it's trading on nested impulsive structure and require to have small correction before it's break of 400 level. We in HTG (Hoagtrading.com) expecting to test 353 price before its continue it's bull move.
Action
We are on sideline after booked our profit at 370 in January, 2017. Team is looking for lower level, possibly 353 to re-initiate our longs with limited risk.
-- By @hoagtrading (Hoagtrading.com)
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GAIL is breaking correction and can target above 500Talking Point:
Technical Strategy: Confirming it's bullish outlook
Elliottwave View: Reversal confirmed and counting impulsive waves
Analysis
We were tracking GAIL from last few weeks and able to see breakout in coming days. Elliottwave perspective, this script is having impulsive bullish view on larger time frame which can be target above 600. However in shorter time frame, we are waiting to see triangle breakout which can atleast target above 460.
Action
We are long on this script from 425 with stoploss @ 410. Target will be 460-500.
-- By Hoagtrading.com (Twitter: @hoagtrading)
My View on Gail - Weekely - LongI am expecting prie of Gail to move up in next few weeks.
First target will be near 520. Second target should be around 580
This idea is published on request of a fellow trader.
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