MTF Stock Pick Buy Garden Reach Shipbuilders & Engineers Ltd For Target Rs. 226 - HDFC Securities
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MTF Stock Pick Buy Garden Reach Shipbuilders & Engineers Ltd For Target Rs. 226 - HDFC Securities
TECHNICAL OBSERVATIONS
The stock price has been in a sharp moves in the last three weeks. After a decline of last week, the stock price has moved up sharply so far this week.
Presently, the stock price is making an attempt to stage upside breakout of the crucial down sloping trend line around Rs 213-Rs 214 levels.
Hence, a sustainable upmove above this area is expected to open a sharp upmove for the short term.
Weekly 14 period RSI is moving above 59-60 levels and volume has started to expand during upside breakout in the stock price.
The overall chart pattern of GRSE indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Garden Reach Shipbuilders & Engineers Ltd Up to 3 Months @ Add on dips 193 CMP 204.95 TGT 226 SL 188
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