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Published on 18/04/2019 3:36:47 PM | Source: Choice Broking Pvt Ltd

Buy The Great Eastern Shipping Company Limited For The Target Rs.325 - Choice Broking

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*On an hourly scale, the stock has given a breakout of its upper band of Falling Channel formation which indicates a bull run in the counter.

* On a daily scale, the stock is sustaining above its 100 Days Exponential moving average which signifies positive trend in the stock.

* Furthermore, MACD indicator is trading above its zero line with a positive crossover which points out for a positive movement in the stock.

* A daily momentum indicator RSI reading is at 59.54 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Sell The Great Eastern Shipping Company Limited @303-300, Stoploss at 292, Target 325

 

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