GAIL Stock Forecast

GAIL stock downgraded to Buy Candidate
(Updated on Apr 26, 2024)

GAIL.BO Signals & Forecast

The GAIL stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹203.92 and ₹189.08. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for GAIL stock

GAIL finds support from accumulated volume at ₹203.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹4.15 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 2.90%.

Our recommended stop-loss: ₹200.64 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GAIL.BO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect GAIL to open at ₹209.07, and during the day (based on 14 day Average True Range), to move between ₹201.17 and ₹214.93, which gives a possible trading interval of +/-₹6.88 (+/-3.31%) up or down from last closing price. If GAIL takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹203.75, some ₹4.30 (2.07%) from the current price of ₹208.05, our system finds the risk reward attractive.

Is GAIL stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for GAIL stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.326 Buy Candidate Downgraded

Predicted Opening Price for GAIL of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.