amankavi
Short

GMDC - Will bulls manage to cross the crucial resistance

NSE:GMDCLTD   GUJARAT MINERAL DE
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Bulls had managed to upbeat the bears resulting in scrip moving upward channel towards greater 52-week highs after rebound
However, Day chart has shown long upper shadow which indicates that the Bears have made an impressive comeback after bulls controlled the trading game for the day!
TP short = Resistance (C) thereafter, scrip can manage to go long if breaks the crucial resistance
SL depending upon your risk appetite
Company with good fundamentals and also, can see major advantage after GST
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Comment: Symmetrical triangle formation has formed on day chart. Waiting for breakout or breakdown, Breakout with high volume could lead to breaking the crucial resistance towards higher heights

Sharp movement is about to follow after breaking from two converging trendline

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