Tradersasi23

Powergrid - Crazy trade - 6 months of resistance

NSE:POWERGRID   POWER GRID CORP
That was a crazy trade for the day. Price tries to break six months of resistance but unable to hold the momentum and falls back below the resistance levels at the end.

Gap down open was another reason for the bulls to fail, actually bulls are exhausted after reaching the resistance levels were bears took total control. Good example for Fake out.

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Comment: Price retesting the breakout level, possible up movement.