Technical Positional Pick - Buy Gujarat State Fertilizers and Chemicals Ltd For Target Rs. 104 - HDFC Securities
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Technical Positional Pick – GSFC Ltd For Target Rs. 326 - HDFC Securities
The attached weekly timeframe chart of GSFC indicate that the stock price was in a strong uptrend over the last many months.
The stock price has moved up as per the positive sequence like higher tops and bottoms over the period of time.
After showing weakness in the last two weeks, the stock price has moved up from the lows of Rs 81 in this week, which signal a formation of higher bottom reversal pattern.
Daily and weekly 14 period RSI shows positive indication. The stock price is also sustaining above weekly 10 period and 20 period EMA in the last few months.
The overall chart pattern of GSFC Ltd indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Gujarat State Fertilizers and Chemicals Ltd @Up to 3 months Buy between CMP 85.10 TGT 104 SL 78
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