Sensex, Nifty, Share Prices LIVE: The stock of GAIL (India) lost 6.3 per cent last week. It fell off the 21- and 50-day moving averages, both of which lie at around ₹167. Although there was some recovery on Friday, the stock ended the week below the key support at ₹169. While the price can inch up from the current level, probably to ₹168, we expect the stock to eventually decline to ₹153 in the near term. So long as the barrier at ₹170 holds, the sentiment will be bearish. So, traders can short GAIL (India) now at ₹164.40 and at ₹168. Place stop-loss at ₹172.
