Gangotri in NELCAST
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Gangotri chavi applied in NELCAST
CMP 94.25
SL 89 -
@Mehul Bosamia Sir what is Gangotri?
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What is Gangotri @Mehul Bosamia
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@Deven Shah @Sidharth Dassani
You can check this link out, it has a detailed explanation of Gangotri - https://shelf.definedgesecurities.com/technical-analysis/vayda-bazar-patterns/vayda-bazaar-ni-chavi/
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Great to read.
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Gangotri Description :
In a Down Trend...
one fine day market opens below P. Low and recovers and close above P. Open or P. Close which ever is higher and remains a bull day then a Gangotri applies. (in candlestick patterns its looks like bullish Engulfing)
SL shall be Days low (on close based). Min. Tgt 25% of Days low. some times it works as a major reversal.
As the name suggest - Gangotri. we all knew Ganga River starts at Gangotri and met in the bay of bengal.
if you notice the width of river at gangotri its very small buy at bay of bengal its huge....
similarly in market - when ever Gangotri Situation applied price is very small and slowly its moving up and up and up ... in many incidances I have seen from 2 figures to 3/4 figures in a year or so.
this is one of my favorite chavi of Kanti kaka's Vaida bazar ni Chavi.
