Gujgas ltd view for intraday 30th Sept
Resistance trendline breakout expectation...
Follow strict risk rewards and stop loss for getting good profit...
Consider it for educational purposes...Analysis from your end before trade...
Gujarat Gas LTD - Good Setup for Long Trade
( GUJGASLTD )
Ascending triangle pattern formed and broke resistance.
Upside can be expected in coming days.
Gujarat Gas Ltd was in an uptrend in the last few weeks and retested its neckline of H&S. The stock achieved its 1st target (392) as described in the previous idea.
Now after the retest it might go for the 2nd target which is placed at 325 from the current levels of 458.
X/2 entry can be taken in Gujarat Gas can be taken above 560 closing. Second X/2 entry or compounding can be done above 580. The targets for Gujarat Gas will be 619 in the medium term. Long term target for Gujarat Gas will be 676. Stop loss can be kept at closing below 481. Gujarat Gas has shown increase in net profit margins, the company has low debt and it is...
GUJRAT GAS is in triplle three correction since from AUGUST.last wave z is pending in the downside,which is likely to end near 420 level,for the correction to get complete.
Gujgas made bullish butterfly pattern on an hourly charts with very good above average volumes & with increase in OI.
Could be bought with mentioned stoploss & targets.
