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A Double Bottom occurred in this price movement during the months of August and September. The duration between the bottoms was 40 days. The volume was relatively high during the second bottom. So, long position can be created at the price level of the previous selling zone which is Rs.390. The Stop Loss is set at the previous buying zone which is at Rs.362.5. The risk taken here is almost Rs.28. So, the Target is set at ( 390 + 28 ) = Rs.418.
TRADE PLAN : GAIL -DOUBLE BOTTOM – ENTRY 390 – SL 362.5 – TARGET 418
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