NSE Godawari Power - Money Making Tree
GPIL has formed a downtrend channel for the last six months .
Price has created five no trading zones. No trading zone is an area where trading activities haven't taken place.
It has formed two excess on the lower band and three rejections two rejections from the upper bend.
The control line has made eight touches .
Currently, the price is on the upper band of the parallel channel.
Don't forget that price has provided two successful rejections from the upper band.
The trader can initiate a short position for the following targets:
313 - 304 - 290.
Invalidation: Breakout of the parallel channel.
Gpilview
GPIL Godawari Power Cup Handle PatternGPIL Fundamentals are also good, Making Cup handle pattern in 4hour TF.
Entry : Above 1500 only with good confirmation(30Min or 1Hr Candle should close above 1500 level)
Tgt : 1700
Sl : 1460
*Always Enter With good confirmation & Maintain proper Risk Reward.
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