Posted for educational purpose.
Gujarat Gas is in consolidation phase for 6 weeks, It kind of broken out of range earlier this week and is again having pull back to support zone. Idea is for positional long as risk reward is favourable with minor stop loss.
Current closing price is 476.65. Suggested stop loss is 461 and perceived targets are 505 and 525.
In case it progresses as expected, apply trailing SL of 500 after achieving first target (505) and ride along.
Gujarat Gas is in consolidation phase for 6 weeks, It kind of broken out of range earlier this week and is again having pull back to support zone. Idea is for positional long as risk reward is favourable with minor stop loss.
Current closing price is 476.65. Suggested stop loss is 461 and perceived targets are 505 and 525.
In case it progresses as expected, apply trailing SL of 500 after achieving first target (505) and ride along.