GLS took its time to give us a double bottom breakout and went on to hit 535 which was th target...on the way it broke the resistance at 480 levels with a breakaway gap, if you may, and thereafter consolidated upon hitting 535 being the double bottom target... few days back when it was trading at 520 levels news broke out of multiple bidders for buying the majority stake in GLS and after one day, street digested the news and gave a thrust upwards which looked like a flag pattern breakout.... giving us a new target for this share at 700+ stop loss to be 513 on closing basis
Comment:
breakdown happening on daily charts, gap has been closed as well...news based trigger happening here...booking out for the time being
Trade closed manually