Buy Gail India Ltd For Target Rs .130/140 - LKP Securities
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Future Outlook
• India's largest Natural Gas entity has a massive gas transmission pipeline network and in our view is in a sweet spot given the surging gas demand in India.
• Its transmission volumes should get a boost since major gas pipelines are getting commissioned in the medium term
Technical Commentary
• A robust base formation has been established at the lower end of the price range, indicating consistent buying interest across various price levels.
• The stock seems to have found a bottoming point around 100, suggesting that a significant decline in price might have concluded.
• Anticipate a vigorous rally in the near term, possibly propelled by the strong buying sentiment observed.
• The momentum indicator, RSI, trading in a strong buy territory further supports this outlook.
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