GAIL (India) Limited is in a rising trend channel in the medium long term. This shows that investors over time have bought the stock at higher prices and indicates good development for the company. The price has reacted back after the break of the rectangle formation. There is support around 112, which now indicates good buying opportunities. An established break through this support will neutralize the positive signal. However, the price has broken a support level in the short term and given a negative signal for the short term trading range. The stock is between support at rupee 110 and resistance at rupee 120. A definitive break through of one of these levels predicts the new direction. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This strengthens the trend. The stock is overall assessed as technically positive for the medium long term.
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