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GAIL (INDIA) LTD
Long

CUP & HANDLE PATTERN FORMED IN GAIL

By peace_lover
TECHNICAL ANALYSIS :

  1. CUP AND HANDLE PATTERN -

    A nice cup & handle pattern had finished forming on 26th jun after which market broke out of it & started going bullish for the next 2-3 months

  2. 100D SMA REVERSAL -

    Market had taken a support from 100D SMA twice indicating strong bullish momentum

  3. STRONG SUPPORT-RESISTANCE LEVEL -

    Apart from that market had taken support from a strong support-resistance level again indicating strong upward pressure

  4. PROFIT -

    Market had finally reached the profit target of 132 which is equal to the height of the cup & then rebounded


Cup And HandleMoving AveragesSupport and Resistance
peace_lover
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