GAIL CMP 194.15
Elliott- this the expanded flat corrective pattern which makes a new highs and then corrects deeply. The current dip is the vth wave of C and is complete in my view. Hence the A,B,C correction is done.
Fib - A nd C have 1 or 1.618 relationship. It is currently at 1.618.
MA- its at its long term MA support too.
Conclusion - Most of the stocks that I have gone trough are completing their 5th wave of C or have already completed and resumed their uptrend. Hence use these dips to buy.