GHCL :: Bullish Pennant formation for NSE:GHCL by vipin_krishnan

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GHCL is on the edge of breaking out from a bullish pennant pattern. Watch out for a breakout confirmation.

Trade active: Pattern is not complete, but still I entered for target of 190 as it seems like a breakout.

Comment: Seems like a breakout, but retracement candle was seen immediately the next day. Lets wait.

Trade closed: target reached: Target of 190 reached and even hit 200.

Comments

Hi Vipin, Excellent call on GHCL! I saw it today only.

I am holding it since 2016 bought @ 217. I missed to sell in the last bull run of the stock.

What's your view now?

Thanks

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chandresh_b

@chandresh_b : Thanks Chandresh, I believe it won't go below levels of 190-200 again. It may consolidate before next bullrun. I entered at 170, now I have trailed my SL to 190.

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what will be target n SL?

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pillaianoop88

@pillaianoop88, Will update once trade is active!

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Alembic pharma limited has a similar pattern..

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pillaianoop88

@pillaianoop88, I see a channel there as of now!

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