GAIL future to give 15 pct profit in 15 trade sessions, say experts
GAIL counter is currently trading in the range of 345-365. Once it breaks the 365 levels, it's next target would be 385 and then 400, say stock market experts.
At a time when the markets are showing an overall bullish trend in a range of 11,600 to 11,750, the stock market investors are in limbo as to how they can maximise their returns. For those investors, the share market experts are betting high on the Gas Authority of India (GAIL) counter citing the share can give around 15 per cent return in 12 to 15 trading sessions means in a fortnight or maximum in three weeks. Currently, the GAIL stocks are oscillating in the range of Rs 345 per stock and experts are expecting it to touch Rs 400/counter levels in the above mentioned time period.
Speaking on the outlook for GAIL stocks Nandish Shah, Technical & Derivative Analyst, HDFC Securities told Zee Business online, "Short covering is seen in the GAIL Futures’ on April 2 where we have seen 3 per cent fall in Open Interest with GAIL moving up by 2 per cent. Momentum Indicators and Oscillators have turned bullish on the weekly charts."
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On his suggestion to the investors, Nandish Shah of the HDFC Securities said, "The stock is bullish and one can buy the counter at around 353 for the target of 385 and then 400." He said that the counter will show these levels in 12-15 trade sessions.
Speaking on the outlook for the oil and gas major Simi Bhaumik, a SEBI registered technical analyst said, "The counter is currently trading in the range of 345-365. Once it breaks the 365 levels, it's next target would 385." However, Bhaumik said that those who are holding this counter should maintain a stop loss of 340 as equity trade without a stop loss is not advisable.
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