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GICRE - UPSIDE POTENTIAL OF 40%

Long
GENERAL INSURANCE (NSE:GICRE)  
Stock-n-Shine  
NSE:GICRE   GENERAL INSURANCE
Parallel Channel Support and Resistance Supply and Demand Supply Zone Ascending Channel bullishpattern bullishmomentum supplyandemandzones supplydemandanalytics priceactionanalysis supplydemandtrading supplyanddemandanalysics
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parallelchannel supportandresistance supplyanddemand supplyzone ascendingchannel bullishpattern bullishmomentum supplyandemandzones supplydemandanalytics priceactionanalysis supplydemandtrading supplyanddemandanalysics
Hi All,

General Insurance Corporation of India - CMP (406)

Market Cap - 71309 Cr
Stock PE - 10.7
Book Value - 315
Promoter Holding - 85%
EPS - 38

As per the technical pattern on weekly timeframe, price action has formed Bullish Continuation Pattern and is currently trading at lower channel of the trend formation.

An upside of 40% is clearly visible over coming months which is the upper channel of the bullish pattern.

In the current week, price action has broken the horizontal resistance as well confirming the upside in near future.

Relative Strength has also turned positive on all major time frames.

As per fundamentals,

Stocks is still undervalued at PE of just 10.7 with sector PE of 17.


Healthy Dividend of 20.4%

CAGR growth of 24.1% over last 5 years

Hope everyone enjoys this trade!

Happy Trading,

Thanks,
Stock-n-Shine

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