Stock has given a thrust out of the triangular pattern and reversed back, regaining it's long term moving average of 200-EMA. Stock has given a breakout of the falling trend line and broken the highs of past 1 year.
These observation suggests that pices are likely to move higher towards 700 in the coming months.
Possible Breakout in Gujrat Gas Ltd.
Best Buy:
After breakout of the triangle pattern @ 500 to 510
OR
Buy if found near support of 470-480.
Stop Loss : 460 & After breakout 470-80
Target:
570/640/700/750+++
Reasons to buy:
1: Good weekly support from the bottom.
2: Possible Symmetrical triangle breakout.
3: Trending just above the 200ma.
4: ...
Inside Bar - 3rd Day
VCP - More than 2 Months
Stock on the edge of compression
Any move above 510 or below 490 will give direction to the stock
Entry only on the confirmation & pullback
Targets are high and open for both sides
Gujrat Gas has broken the major resistance zone today also it has come out of Rounding Bottom formation. Its really a great cndidate to go long on.
Entry :- 490 (Take it asap trade active.)
SL - 459
Target:- 573
R:R :- 2.69
Target should be achieved within 2-3 months.
Long Above 580 after the BO of Resistance level. Once stock move from this level we can expect a good uptrend in the stock. Target above the 640-650 SL can keep below yesterday's closing. Good risk to reward ratio. This is for your educational purpose only.
NSE:GUJGASLTD
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
NSE:GUJGASLTD
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
Hi
This is our weekly forecast, in this we are updating our weekly neowave view for bank nifty and 8 stocks. If anything changes in the count we will update you next week
if you have any query, than write in comment box.
Thank you.
Gujrat Gas hit a high of 704 on 22nd june and since then it has been trying to reach that but has not succeeded yet. It has formed an ascending triangle since then. Nice build up has been noted since then as the price is making higher lows and the volume is going down. Can be bought at CMP for a target of 704, 744, 809 with a SL of 600. You can consider this for...
On the Hourly Timeframe the stock is forming a ascending traingle pattern which is a bullish pattern and indicates a good bullish momentum in the stock. The stock is looking very good for trade as the lower volumes is also confirming the pattern. RSI is at 60 levels which is also indicating a good upside momentum. It can give a good upside momentum in the coming...
![GUJGASLTD: [Positional] GUJRAT GAS LONG](https://s3.tradingview.com/v/VczuPJJo_mid.png "[Positional] GUJRAT GAS LONG")
