Positional or Longterm Opportunity in GAIL

Diupdate
Go Long @ 188.55 for Targets of 208, 221.15, and 237.45 with SL 180.4

Reasons to go Long :

1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.382 Fibonacci level.

2. In addition to this a bullish candlestick pattern Bullish Hammer (marked with orange) is formed around the 0.382 Fibonacci level.

3. Also there is a strong Trendline (marked with green color) which supports the stock.
Trading ditutup: stop tercapai
Candlestick AnalysisFibonacciTrend Lines

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