AbhishekHSinghCMT

GSFC- Magical Turn below 122 & Evening Star Candlestick Pattern!

Short
NSE:GSFC   GUJARAT STATE FER
6
From previous update- "knocked 118.80 what next?" - Any move above 122 on a sustained basis can be looked as wave-iii or warning bell- warning bell rings just below 122.

Wow!- It turns just below 122 from recent high@121.50

What Next?
In current scenario you have Evening Star Candlestick Pattern- 3 candlestick pattern- which indicates a bearish or sell setup & could be an early sign of reversal & likely a dip below the previous high of 107 could be expected.

What is an Evening Star Candlestick Pattern?
An evening star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large white candlestick located within an uptrend; the middle bar is a small-bodied candle, red or white, that closes above the first white bar; and, the last bar is a large red candle that opens below the middle candle and closes near the center of the first bar's body. This pattern is used by traders as an early indication the uptrend is about to reverse.


Knocked 118.80- What Next?

GSFC- Rocket Move Started from 107

GSFC 2016 Diary- How we moved in year 2016

Trade active: 10:12 Hrs 24th Jan2017

Last Price@106

day's Low@102.20--------------------Awesome!!!
Trade closed: target reached: 22:25 Hrs 3rd Feb2017

Last Price@110.30

Moved as expected & had a sharp fall from 121.50 to 102

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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