GAIL in the past couple of sessions, made multiple attempts to kick out the resistance zone of 105-110
it failed
will it be successful now? and make a move towards 140?
as per setup
the earlier resistance got cracked out with volumes
during the current nifty down move,
the stock witnessed support at 800-820 zone
now a breakout above 875 would be a confirmation of long
with a stop below 845 for target 925-940.
trading above 20 & 50-period average
trading now well above earlier resistance areas
should approach previous hurdles at 4225, which if sustained can continue towards 4450-4480
The price action of LTIM suggests that it is in consolidation for a couple of months.
the supply and demand are now in a 10-12% range.
the script had attempted fake-outs in the past as well which failed at trendline resistance areas.
LTIM needs to give a close above this level for any decisive move
Failure to close above 4800 makes it a strong resistance...
continuously making patterns, breaking out quickly and then consolidating and breaking out again.
follow the past pattern and back test it.
keep watching!!
