GAL (Ghandhara Automobiles Ltd.) is showing a strong bullish setup. Price is holding above its trendline after bouncing off solid horizontal and rectangle support zones. On top of that, GAL has a history of performing well in July, which adds a seasonal boost to the setup.
Fresh entries can be considered at the CMP, while for averaging or pullbacks, 375 and even 350 could offer attractive buy zones if the price dips.
For risk management, there are two stop-loss options: a conservative one below 318 to guard against broader breakdowns or gap fills, or a more aggressive one on a closing basis under 350, just beneath key structure.
Take Profit 1 at 490 lines up with rectangle resistance. A strong close above this opens the door to the next projection around 630. If price manages a firm close above 630, momentum could drive it further, with the AB=CD pattern pointing toward a stretch target near 700.
Trading Recommendations:
Happy trading!
Fresh entries can be considered at the CMP, while for averaging or pullbacks, 375 and even 350 could offer attractive buy zones if the price dips.
For risk management, there are two stop-loss options: a conservative one below 318 to guard against broader breakdowns or gap fills, or a more aggressive one on a closing basis under 350, just beneath key structure.
Take Profit 1 at 490 lines up with rectangle resistance. A strong close above this opens the door to the next projection around 630. If price manages a firm close above 630, momentum could drive it further, with the AB=CD pattern pointing toward a stretch target near 700.
Trading Recommendations:
- Buy 1 (CMP): 404
- Buy 2: 375
- Stop-Loss (Aggressive): Closing below 350
- Stop-Loss (Conservative): Closing below 318
- Take Profit 1: 490
- Take Profit 2: 630
- Take Profit 3: 700
Happy trading!
Trade active
TP1 hit !
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.