GSFC (Gujrat State Fertilizer) - Seller's paradise 81-83

1 Sep 2016

GSFC has been going into seller's paradise 81-83 for 1 year. The first attempt was in July2015. Second attempt was in June2016. So, one should be careful if you wish to add GSFC to your portfolio- one can do that only if paradise zone 81-83 is taken out sharply to the upside.

Till then
Trading Strategy-
Once the falling trendline gets breached trader can look to initiate long positions likely above 79 marks.

Alternate Trading Strategy-
Wait for the zone 73-75 to see whether GSFC hold's in that zone- once it appears that zone is giving support -one can plan their longs only if it starts moving upside direction.

Regards,
Abhishek H. Singh, CMT