Stock of the day: Buy Gujarat Heavy Chemicals Ltd For Target Rs.568 - Religare Broking
* GHCL has been in a consistent uptrend since 2015 but witness volatile swings also during the corrective phase.
* In the last up move, it surged almost vertically from March 2020 low i.e. around 65 levels to a new record high at 692.56 levels in September 2022.
* To digest that move, it witnessed a dip to the support zone of 470 levels, which coincides with 100 EMA on the weekly chart. And, it has spent nearly 7 months in a consolidation range and now looks set to resume the uptrend.
Buy Tata Chemicals Ltd CMP 510; Range 510-513; SL 489; Target 568
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