GAIL - Rally coming to an end

GAIL has broken out of cup and handle pattern. Going by the characteristics of the pattern the stock should come to a halt at around 540 before deciding on its next move.

The depth of cup is around 70 pts and 50 pts added to base of the handle give us an estimate of around 540 as next target for this bullish trend.

See the graph below.

Please double click on the graph to view it clearly.