GAIL APPEARS TO BE BULLISH AND ITS BOARD APPROVES ISSUANCE OF BONUS SHARES

GAIL witnessed a breakout gap showcasing uptrend and the Board has issued bonus shares, raising funds through bonds and declaring interim dividend.

Today, GAIL opened positive along with significant increase in open interest .

3 Comments

EQSIS 7 years ago

I understand the exhaustion behaviour, meanwhile I have long position in GAIL. Watching closely about the gap..

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V.VEDANAYAGAM 7 years ago

Dear sir /madam
I agree with your projection/continuation of bullishness in GAIL mainly because of bonus share (cut off date ?) rather than dividend(cut off date 03 02 2017)
However the following points make hesitation for FRESH (long) ENTRY .
1. The last candle(at the top)shows the presence of strong bears and the previous two days are also weak/defensive bulls.
2. RSI also as on date(27 01 2017 )shows (73) OVER BOUGHT level.
IT is only a vague for me and I never say/wish the reversal of the ongoing bull trend. Happy trading

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- EQSIS 7 years ago
  
  Good Observation, thanks for sharing your input sir..
  
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