Consolidation phase ( Trading with in Zone) This scrip is entering in time based Consolidation phase
where price will moderately move with in upward directed flag pattern
one can look for trading with this zone , we are looking trade this for a while before heading for next move down as impulse
Look for buy & Sell Set up on smaller time frame to enter & Exit
Trade ideas
Gail- 12 AugStock has been trading in a downtrend channel since July. Yesterday the upmove broke the channel along with volumes greater than 50 day's average. RSI is recovering from the oversold region.
Adding to the steam is announcement of better than expected growth results. Go long if sustains near Rs.125
Intraday Target- 127-130
Positional Target- 134