1) There is a Symmetrical Triangle Formation made on the weekly chart of Gujarat Industries Power Co. LTD.
2) It has taken support at 200-day Moving average
3) Fundamentally: A) FII has increased stake in the last 2 years and Promotors Holding has been very stable at 55.69%
B) Stock is trading at 0.42 times its book value
Target: 1) 105 (Risk to Reward Ratio 1:1)
2) 145 (Risk to Reward Ratio 1:3)
Stop Loss: 65
GIPCL
2) It has taken support at 200-day Moving average
3) Fundamentally: A) FII has increased stake in the last 2 years and Promotors Holding has been very stable at 55.69%
B) Stock is trading at 0.42 times its book value
Target: 1) 105 (Risk to Reward Ratio 1:1)
2) 145 (Risk to Reward Ratio 1:3)
Stop Loss: 65
GIPCL
Comment:
Profit Booked