GAIL above the price of 114-115 gave a 4 year high breakout recently. Post this breakout, stock price went up to around 122 and is now correcting with overall markets. After a breakout, retest of previous resistance zone is quite common in these kind of set ups. I think that’s what is going on, and I would be observing how the stock behaves during the retest. Results wise, GAIL is not a company that is easy to analyse, and business is vulnerable to government policies and regulations also. So one has to play it accordingly. I am purely playing it as a breakout with well defined targets and will apply appropriate stop losses if needed. Anyone contemplating investing in this company should do their own diligence and take a call.
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