EWT - Gail is Going To Break 2021's High

10 Oca 2022

Gail India has completed its 4th corrective wave, where wave C is the last leg of correction.

Price took 27 weeks to complete the corrective wave ((4)).
After completing the wave ((4)), the price has broken the sub-wave iv and signaled a rally. It also has entered into the corrective channel, and this rally can make a new higher high.

The traders can expect the following targets 149-156-170+ for impulsive wave ((5)).
Invalidation point is low of wave ((4)) at 125.20.

Wave Formations:

Wave ((1)) started to form an extreme low at 65.
- Leading diagonal

Wave ((2)) has retraced 0.618% of wave ((1)).
- Zigzag correction

Wave ((3)) has extended 2.618% of wave ((1)).
- Five wave impulse

Wave ((4)) has retraced 0.5% of wave ((3))
- Extended wave 5

20 Oca 2022

Not

The price has made a high of 148.50, which is close to our earlier target of 149

3 Mar 2022

Not

TP 2: 156

2 May 2022

Not

TP 3: 173