GAIL (India) Limited (GAIL) Stock - Complete Technical Analysis - Sep 03, 2024

GAIL Stock Analysis: Key Support, Resistance

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Let's dive into the technical analysis of GAIL (India) Limited (GAIL) stock. Currently priced at 233, GAIL presents a mixed technical outlook.

Support and Resistance Levels: GAIL's key support levels are around 224.48 and 211.26, with further support at 188.31. On the resistance side, we have critical levels at 247.43 and 257.16, extending up to 280.11.

Technical Indicators:

MACD shows a positive momentum with the MACD line above the signal line, indicating bullish potential.

RSI is at 50.72, suggesting that the stock is neither overbought nor oversold, and could be due for a move in either direction.

ADX is at 9.36, indicating a weak trend strength. This suggests that the stock might experience consolidation or low volatility.

Stochastic %K is at 58.44, showing that the stock is in a neutral position, while the Stochastic RSI at 38.53 points towards a potential oversold condition.

Momentum is negative at -4.19, indicating some bearish pressure.

Awesome Oscillator is positive at 3.28, which supports a potential bullish outlook.

Williams Percent Range at -55.01 confirms the neutral to slightly oversold condition.

Ultimate Oscillator is at 49.98, suggesting a neutral momentum with no extreme conditions.

Moving Averages:

The stock is trading just below its 10-day EMA of 233.98 but above the 50-day EMA of 227.38, indicating a short-term bearish trend but a longer-term bullish trend.

Simple Moving Averages show similar behavior with short-term averages like the 10-day SMA at 234.31 and the 50-day SMA at 228.61.

Chart Patterns: The stock is currently testing key pivot points and moving averages. The Ichimoku Base Line at 233.65 and the Hull Moving Average at 234.49 are close to the current price, indicating potential support or resistance levels around this zone.

Overall, GAIL is showing a mix of bullish and bearish signals with the price hovering around critical support and resistance zones. Traders should watch for a breakout from these levels or a consolidation phase to gauge the next directional move.