Few days back a news is flashed in ET that ONGC & GAIL can gain from high oil prices. But despite that we are unable to find out any positiveness in GAIL chart. GAIL is on totally bearish mode and shown a breakdown from trend line. Though stock has shown breakdown but right now market is at key support levels and suppose to hold that in such case downside momentum in GAIL will be a little weak. So it becomes a little risky trade.

Sell GAIL for downside target of 336, 329, 312 with stop loss of 365 on closing basis