The outlook is bullish for GAIL (India). The stock has been strong uptrend. The 3.5 per cent rise on Monday indicates the resumption of the broader uptrend after a short-lived pause. Support is around ₹186. Intermediate dips are likely to be limited to this support level. Fresh buyers are likely to come into the market at low levels.
Today’s Stock Recommendation: 5th March 2024
GAIL (India) share price can rise to ₹200-205 in a week or two or even before that in case the current momentum continues. Traders can go long now at ₹191. Accumulate on dips at ₹187. Stop-loss can be kept at ₹182 initially. Trail the stop-loss up to ₹194 as soon as the stock moves up to ₹197. Move the stop-loss further up to ₹198 when the price touches ₹201. Exit the long positions at ₹203
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)