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Published on 10/01/2019 5:03:08 PM | Source: Choice Broking Pvt Ltd

Buy The Great Eastern Shipping Company Ltd For Target Rs. 324.50 - Choice Broking

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* On an hourly chart, the stock has given a breakout of its falling trendline which shows price may accelerate further.

* On a daily chart, the stock witnessed a surge in the volume activity during trading session which indicates an accentuate buying in the counter.

* Moreover, the stock has started to trade above its 200 Daily Exponential Moving Average which shows an upside rally in the counter.

* A daily momentum indicator RSI reading is at 57.36 level with a positive crossover which points out for a positive breath in the stock.

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

 

Recommendation

Buy The Great Eastern Shipping Company Ltd @ 324.50 Stop Loss 312 Target  350

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