GNFC Bullish View (Inverted H&S at Bottom, BB challenge)
GNFC has passed multiple filters to have bullish view currently on daily chart
Patterns and Interpretation :-
Inverted H&S :- There is Inverted Head & Shoulder formation at bottom as reversal,
Dow theory reversal :- Trend is reversed from inverted head long back and stock is in uptrend
Genuine Break out :- There is shakeout happened before breakout and it seems genuine breakout and not fake breakout
Support resistance : There is no immediate resistance nearby. Major resistance is broken on 27th July
Elliot Wave :- Stock is in 3rd wave and will move fast
Go Long while stock will retrace for breakout testing around Rs.693 with Target of Rs.742
Stock has challenged upper Bollinger Band with ADX above 20 and DI+ crossover with DI-
* Note :- If stock doesn't retrace then Entry around Rs. 715 with Stop loss of Rs.693
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Patterns and Interpretation :-
Inverted H&S :- There is Inverted Head & Shoulder formation at bottom as reversal,
Dow theory reversal :- Trend is reversed from inverted head long back and stock is in uptrend
Genuine Break out :- There is shakeout happened before breakout and it seems genuine breakout and not fake breakout
Support resistance : There is no immediate resistance nearby. Major resistance is broken on 27th July
Elliot Wave :- Stock is in 3rd wave and will move fast
Go Long while stock will retrace for breakout testing around Rs.693 with Target of Rs.742
Stock has challenged upper Bollinger Band with ADX above 20 and DI+ crossover with DI-
* Note :- If stock doesn't retrace then Entry around Rs. 715 with Stop loss of Rs.693
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.