indiamarketoutlook
Short

GSFC: Stock is up but view is bearish

NSE:GSFC   GUJARAT STATE FER
GSFC            
CMP 119.3

Observations

- 20 day EMA crossing below 50 day EMA

- 122-124 important resistance level

- 112-108 important support zone

- below 115 Head and shoulders pattern starts getting stronger

- Probability of the stock going lower increases if it takes out 112-108 levels

- Target zone for the pattern 94 / 86

- View gets invalidated if stock sustains above 124 for time being...

Take care and safe trading...
Hi Thanks for your views, I have booked in the morning my long positions from friday, now looking at going long in vedanta.
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