Stock Tips - Buy stocks of GAIL for short term gains

This week, in the section stock tips, is a technical stock tip published by stock broker company Aditya Birla Money.

Aditya Birla Money has published in it's stock tips a report on GAIL. According to this report, GAIL is well placed and is all set for next leg of up move with targets of higher levels.

Pattern wise, GAIL has broken out of Bullish Inverted Head and Shoulder formation, it has been oscillating within a band with lower highs and lower lows thus taking a shape of a probable symmetrical triangle. Normally symmetrical triangle are continuation pattern and such pattern post Inverted Head and Shoulder breakout adds further weight to the bullish argument.

The stock is well placed and post termination of the said triangle it is all set for next leg of upmove targeting higher levels. Buying stocks of GAIL is recommended above Rs 482 with a stop-loss of Rs 466 for a possible target of Rs 515 levels.