GNFC | 5 year resistance breakout acting as support level
Updated
After the five year resistance breakout, the stock given significant return and retrenched to 50% fib level.
In chart, falling wedge breakout is visible and momentum strength confirmed multiple factor i.e., ema, volume and rsi.
Entry at current level, Stop loss below Rs 580 and Target 1 & 2 pointed in chart.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
In chart, falling wedge breakout is visible and momentum strength confirmed multiple factor i.e., ema, volume and rsi.
Entry at current level, Stop loss below Rs 580 and Target 1 & 2 pointed in chart.
Thanks
-AJ
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Note
Weekly Chart:Daily Chart:
Technical Indicator:
Note
entry above trendline Note
15 min chartNote
Big fall due to weak financial results.Key Crucial Level Rs 584.
Note
Support - Rs 584 ; Resistance - Rs 606 Trade closed: stop reached
technical was favourable but weak financial results made sentiment very negative.😔😔
Trade active
volume breakout !!
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