XTRAS: GAIL India Ltd., the country’s Natural Gas leader, was figured in the Forbes list of World’s Best Employers 2020. Only 31 Indian companies were in the list of 750 companies from 45 countries,
Technical Analysis
• Support can be seen at Rs. 136.50 levels where it has bounced back a few months ago.
• Resistance will be at 170 - 172 levels where it has shown a downward trend 2 times.
• RSI index is taken on 30 to 70. Currently, it's in the oversold zone as of now but if it crosses 145 levels out of the parallel lines then a good chance of a breakout.
• Volumes have been decreasing following few months which might have a reverse effect on price.
Analyst View
• The company's fundamentals are strong making it a good investment opportunity for long term.
• Gross revenue from Natural Gas Marketing in FY 2020-21 was 43,846 crore as against 59,955 crore in FY 2019-20, showing approximately 27% decrease.
• During FY 2020-21, Company's production increased by 3% to 813 KTA of polymers as against 788 KTA in FY 2019-20.
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