Expecting a Bullish Momentum in GAIL

As per the 2 Hour Chart of GAIL, we have witnessed a Formation of a “Bullish Engulfing” Pattern on the downside levels.

Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 160.10, 162.45, and 164.65. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 156, on closing basis.
Closing Price (as on 25.04.22) : 158.90


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