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Published on 23/05/2019 4:41:19 PM | Source: Choice Broking Pvt Ltd

Buy The Great Eastern Shipping Ltd For The Target Rs.270 - Choice Broking

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* On an hourly scale, the stock has given a breakout of its range bound movement which shows further upside movement can be seen in the counter.

* Additionally, the stock has been sustaining above its 50 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, the stock has given a breakout of its falling trend line which suggests a robust upside movement in the counter.

* A daily momentum indicator RSI reading is at 37.74 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 Ltd @ 254 SL 245.50 TGT 270

 

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