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MTF Stock Pick Buy The Great Eastern Shipping Co. Ltd For Target Rs. 425 .- HDFC Securities 

TECHNICAL OBSERVATIONS

The down trend of the last 5-6 weeks seems to have completed in this shipping stock (GESHIP), as per weekly timeframe chart.

The stock price has taken support of up slopping trend line at Rs 370 and witnessed a sustainable upside bounce in the last couple of sessions.

The larger degree of higher tops and bottoms is intact and the last week’s low of Rs 368.55 could be considered as a new higher bottom of the sequence.

Weekly 14 period RSI has turned above 60 and volume has started to rise with upmove in the stock price.

The overall chart pattern of GESHIP indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.

Buy Great Eastern Shipping Co. Ltd Up to 3 Months @ Add on dips 362 CMP 385.20 TGT 425 SL 354

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