price is at GARTLEY zone As Butterfly Making strong Potential Reversal Zone expecting retracement from this zone
Bearish Butterfly Ultra high volume up bars - trap of Smart Money Professionals are selling into the public buying – Higher volume. SET UP BECOMES VALID ONLY when RSI s below 70 and IF Price breaks ULTRA HIGH VOLUME Candle LOW with LOW VOLUMES & with NO DEMAND l.e place for short Potential SELL
BEARISH Shark + Butterfly Pattern given good reaction on Type1 entry with XA 88.6 as PRZ & hit Target now price is again came in PRZ Zone of Pattern it becomes a TYPE2 Entry which is REVERSAL...RED HORIZONTAL LINE is WEEKLY R1 ,R2 & R3 Lines..Reversal from Butterfly zone or from SharkXA88.6 as PRZ or from Shark 1.13as PRZ ? Ultra high volume up bars - trap of...
With a high probability, it may go upto 440 - 480 - keep 380 as SL
CUP & HANDLE BREAK OUT WITH HEAVY VOLUMES. DAY CHART & MONEY FLOW INDICATES THAT THE PRICE WILL COME DOWN TO 525. THEN IT SHOULD TOUCH THE TARGETS: 536 / 559. PLACE STOP LOSS ACCORDINGLY.
Presently in down trend and may find a support at 520. If it turns bullish, target in intermediate term can be 611.
Investment Rationale: Increase in prices of Caustic soda since Aug 2016 could last for some more quarters benefitting GACL’s margins In-house R&D, plant and technology up- gradation could help to improve capacity utilization going forward GACL’s capex plans could help to expand its business going forward With sound financials, company is on track to...