Observed that the price action breaks out from the consolidation zone of 145-135 levels and closed below it, indicating further weakness ahead. The price action may further dip down to the 130, 125 levels to also fill up the big gap on the chart too.
The stock is at important level which has the potential to act as support.
Last time we did see a bounce back after re-filling the gap around 78-80 levels. Will history repeat itself...
Given the current price, setup and risk::reward ratio, one may consider to go long in Adani Gas at CMP or closer to 96-97 odd levels.
Target 104 /107/...
Boys and Girls,
I do stuff based on the probabilities, and things which i have experienced in past. crawl towards .5 level and over bought StochRSI and RSI is never a good sign. We shall see how it pans out later.