Amatuer_Sanjay

GILLANDERS A definite buy. Target 49 Rs per share

Long
NSE:GILLANDERS   GILLANDERS ARBUTHN
This is a definite buy for share GILLANDERS on 7/06/2021 NSE:GILLANDERS

Below indicators are strionly advicing to buy
1) RSI>60
2) MACD line above Signal line
3) Morning star pattern formed with bullish engulfing pattern too.
4) its on uptrend and resistance not yet reached so definitely will go atleast till resistance level .
5) volume is very high and indicates that people will keep the buying pressure on.
6) on a stable bullish trend .

Combining all this I would suggest that the stock is a definite buy atleast till it reaches the resistance. But I have strongt feeling that its going to break the resistance.
Note that the stock has respected and followed the candle stick patterns in past also clearly so no doubt that it shall follow this time too.

Comments

Yes resistance broken. Even though its a bearish candle now a new support formed. It will continue to rise above as Red candle is a good hammer pattern.
Reply
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