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
Reliance: the heavyweight counter is trading in a tight range with support can be seen at 2250 areas while hurdles at 280-2410 zones the counter need to surpass this range for any effective trade however good for option strategies like IRON FLY, IRON CONDOR, STRADDLE SHORT with a hedge, and calender strategy as well
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...