We recommend a buy in Gail India (Gail) at current levels. From the weekly chart of Gail, we note that the stock has been on a steady long-term uptrend since May 2006 low of Rs 210 levels. Besides in September 2007, the stock broke through the key resistance level of Rs 350 and accelerated its uptrend. On November 7, the stock penetrated the significant resistance level of Rs 440 by gaining 6 per cent and recorded its life-time high of Rs 477. We also note that there is an increase in volumes for the past three trading sessions. The daily and weekly momentum indicators are presently featuring in the bullish region. The immediate support for the stock is at Rs 385 and the next support level is at Rs 365. Investors with medium-term horizon can buy the stock with stop loss at Rs 428. We expect the stock to accelerate further up to Rs 490 and then to Rs 525 in the medium-term.

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