Tradersasi23

Powergrid - Crazy trade - 6 months of resistance

Tradersasi23 Updated   
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.

If you find my analysis helpful . . . . . Please show your support by hitting πŸ‘ LIKE button,

Your Support is very much πŸ™ appreciated!
Comment: Price retesting the breakout level, possible up movement.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.