A few interesting chart formations.
Gas Stocks nearing a breakout. ( Even in a GAIL, Gujarat gas showing strength)
Indraprastha Gas - Triangle breakout
- Range contracted to almost 20-30 points from 505-530
- Multiple bottoms.
- A breakout done today.
MGL – A big cup and handle breakout in coming weeks ?
- The last attempt at 1220-1250 failed.
- Higher bottoms.
- 1220-1250 a resistance.
Bounce Back stocks
Biocon – Base set now time for some bounce.
- 370 an important support with multiple bottoms.
- Today a first indication of reversal.
- Momentum above 395
M&M Financial – Deep correction in current lockdown. Retesting major supports.
- 150-155 is the last breakout point as well as a major support.
- A steep correction from 200-220 to 150-160.
- Above 165 can see a quick bounce.
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