Stock of the week - Buy Gabriel India Ltd For Target Rs. 163 By GEPL Capital
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Observation
* On Weekly charts, GABRIEL prices showed a bounce back from 50% Fibonacci retracement level of its prior advance from 39.5 level (March 2020) till 168 level( October 2021).
* Prior to one week, the stock has given a breakout of Double Bottom price pattern with volume confirmation on the weekly charts.
* On the daily chart, the prices have given a breakout above its 200 Day SMA and moved up after retesting the 200 Day SMA which indicates strong positive undertone of the stock for the short to medium term.
* RSI on daily and weekly charts are above 50 mark and rising indicating strong momentum in the prices.
Inference & Expectations
* The price action and evidence provide by the indicators we can infer that the breakout has happened with strong momentum on the upside.
* Going ahead we expect the stock to move higher towards 150 level.
* The level of 124 will act as a major support on the downside.
Buy GABRIEL INDIA LTD at CMP: Rs 136 | Target: Rs 163 (20%)| SL: Rs 124
To Read Complete Report & Disclaimer Click Here
SEBI Registration number is INH000000081.
Please refer disclaimer at https://geplcapital.com/term-disclaimer
Above views are of the author and not of the website kindly read disclaimer
