Ashish kumar

Gail: Buy

Time period: 1 week

Stoploss: 363

• Oil stocks continued the northward journey today again.
• The stock that has missed the momentum in the space is GAIL.
• The stock has already exited its falling channel in 2nd week of September.
• September onwards, the stock has been consolidating.
• Now, it has managed to cross its Exponential Moving average of 50 Weeks.
• Hence, a sustenance above 376 in NSE Cash segment will bring positive momentum.
• The previous week's low which is 363 will be the stop for the long position in the stock.