1) 4 months consolidation 2) Breakout with engulf candle and good Volume 3) Re-test Now Perfect Entry
As per my analysis, when NSE:GMMPFAUDLR give breakout and close any 45min candle above level of 1490. It could be best buying opportunity with stop loss of 1400 (-90 Points risk). My expected upside target would be 1655 (+165 Points) & 1825 (+335 Points). Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Disclaimer: I am not a SEBI Registered Research Analyst and all these analysis are based upon own study and experience. Reader should take a note that, they should consider their goals and financial planners for taking any decision and consider this study as just a reference for research. I keep altering my positions so I may or may not be invested in my suggested...
GMM Faulder is consolidating in the drawn triangle, if double bottom breeches the entry point then it will go down otherwise it will rise to the double top and can give breakout, please do your own research before investing.
The stock has Cypher Pattern Probability on Daily Chart, if it unfolds stock might test 5000- 5100 levels in the coming sessions. Buy on Dips for me.