Looks good for a reversal as a bullishbdivergene has been spotted on a weekly time frame
As the sectoral rotation is being shifted to (Energy and Oil&Gas), GujGas can be one of the good bets.
For a safe entry, above 480 is the entry and for the aggresive ones, CMP is the best level.
GUJARAT GAS 1D TIMEFRAME BRACK PATTERN
Hello guys this chart is only education perpose only ,
This chart is gujarat gas stock chart create pattern
Resistance - trendline follow wait trendline bracke
Support - 446 To 437 Brack and retest 405 level and brackdown stock is finally go down
upper side wait for 500 level and upper side resistance 580 is nxt target
GUJRAT gas in narrow range keep it in watch list for breakout if it breakout and then retest to 50 % of weekly candle we can go with applicable R:R. Always maintain sl on closing basis . Before investment do your analysis and study.
Gujarat gas is in the range of 430-530 from very long. while analyzing weekly chart we see 403 as a strong support and the downward sloping trading line is also about to break. One can make a small entry now and aggressive entry above the trendline breakout.
Recently on result day it made a low of 440 which looks out to be a bottom for the year, from there it...
Price was consolidating in a symmetrical triangle, broke down and then closed below it. This is usually BEARISH.
But today, it closed back above and inside the triangle again, invalidating the previous breakdown. This makes a FALSE BREAKDOWN/ BEAR TRAP.
False breakdowns/breakouts leads to a massive move on the opposite direction. In this case, UPSIDE.
So, we...
NSE:GUJGASLTD
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and...
stock is in a consolidation for almost 1 year.
other oil companies have made a run already.
it could make a further move.
the end of wedge seems near and we have been bouncing of the lower TL for 1 yr and rejecting at the upper TL.
bought near the lower TL.
could break this time
📊 Pattern: Symmetric Triangle
📌 Symbol/Asset: Gujrat Gas Ltd
🔍 Description: Stock moving in a bullish symmetric triangle, bouncing from support of triangle
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Gujarat Gas consecutive Inside Bars on the monthly chart. Price has been consolidating in a range between 450 and 530. A decisive close above 530 could lead to a move to 600.
Watch out this daily symmetrical triangle formed in #GUJGASLTD
Symmetrical triangles are usually neutral triangles.
The direction in which breakout happens gives the future direction for the instrument.
So if price breaks the upper line of triangle, we can look to buy/long.
If price breaks the lower line of triangle, we can look to short/exit any existing positions.
Bullish morning star candlestick pattern is formed as monthly candle ended and in weekly timeframe we can see bullish divergence in RSI which is a good sign to go long with Gujrat Gas but first it has to break 526 resistance after that we may see 576 & 610. This is just for educational purpose. The content provided is for educational and informational purposes only.
In the Weekly Chart of GUJGASLTD ,
we can see that, it has finally shown a Positive momentum.
Cup & handle pattern at 525 level and it has been respected many time, Once its crosses 525 we can see 2 targets .
The price trading near the trendline support and price formed hammer on weekly chart and also price taking perfectly support also at the trendline and weekly RSI also at the 40 support which shows that price has momentum to go upside and price can move towards the upside levels.
👉🏻At trendline support✔️
👉🏻Hammer at support on weekly chart✔️
👉🏻 Weekly RSI @40...
