Stock India - GAIL India Ltd For Target Rs.103 By GEPL Capital
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About the Company
GAIL (India) Limited (formerly known as Gas Authority of India Ltd.) is a government owned natural gas corporation responsible for natural gas processing and distribution in India. It wallets in the following business segments: natural gas, liquid hydrocarbon, liquefied petroleum gas transmission, petrochemical, city gas distribution, exploration and production, GAILTEL and electricity generation.
Points to consider
* Price chart formed a 6 month-long head and shoulder top with an upward sloping neckline acting as support at 140 levels. The neckline was tested several times over the course of the chart pattern.
* A daily close below 139.8 levels will confirm the breakdown from the 6 month-long head and shoulder top with the possible chart pattern price target of 103.
* On the contrary, if the price closes above 159.65, then the Head & Shoulder Top pattern would be negated. That can result in the prices moving further up to 191 levels.
GAIL (INDIA) LTD. Current Price: ₹148 | Target: ₹103
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SEBI Registration number is INH000000081.
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