ajiteshvispute84

Consolidation Range Breakout Pattern

Long
BSE:GIPCL   GUJARAT INDUSTRIES POWER CO.LT
With current close, the stock has broken out its "Consolidation Range Breakout pattern" at 91 levels on a closing basis along with rising volumes.
on the daily and weekly chart, the stock continue to scale upward forming higher top and higher bottom formation indicating sustained uptrend.
this buying momentum was observed from its 20-day SMA support zone which remains a crucial level to watch for
the daily and weekly strength indicator RSI i in bullish mode along eighth positive crossover which supports rising straight
The above analysis indicate an upside of 115-120 levels. time period is 3 to 4 weeks.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.