GUJARAT GAS: Gap filling due??

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The chart is pretty self-explanatory as always. But as usual, Below are some good-to-know pointers.

- The price has been stuck in a range for about a year now
- The support zone is holding up. But for how long, we do not know.
- The best case scenario will be the break of the support inviting sellers followed by filling of the long due gap and a recovery. Again, this is a scenario, not a prediction.
- If the support holds, We will see a good up move only when the crucial resistance zone is broken and the price sustains above it.
- Weekly Moving averages have negativity written all over them. The 50EMA has crossed 100EMA. The price is trading close to 200EMA after taking support from it.

What do you make of this price action?

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Getting Closer to the best case scenario:

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Price bounced from the gap zone. Although, The gap is just partially filled. We would have liked a bounce only after the gap-filling. But all well...

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Slow and steady

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The first target reached 500...

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