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The short-term outlook for the stock of GAIL (India) is bullish. The stock has been trading sideways between ₹125-₹173, and within this, the stock has been moving up. The chances are high to move towards the upper end of its range. This rally can happen in the next four to six weeks.
A strong support is in the ₹142-₹140 region with intermediate resistance at ₹155. Traders with short-term perspective can go long and accumulate on dips at ₹141. Keep the stop-loss at ₹134. Trail the stop-loss up to ₹152 as soon as the stock moves up to ₹158. Revise the stop-loss further higher to ₹161 when the stock touches ₹165 on the upside. Book profits at ₹168.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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