GMMPfaudler was on my watchlist from past couple of months because of its beautiful consolidation after a fall.
Recently, the company has announced good Q1 results due to which a breakout was seen in the stock. It was followed by some profit booking. On friday, the stock gave a gap down opening due to news(GMM selling stake in the stock) followed by a huge buying momentum. It seems like the gap down was a SL hunting move for the breakout buyers.
The chart is looking very strong at CMP for minimum target of 1750 and 1970. SL can be below 1400 DCB which is a strong demand zone. However, since its a news based stock, the risk associated is higher.
Please note that I am sharing this idea only for educational purposes. One can study and observe the chart as it could be a very beautiful example of how a big move is always preceded by SL hunting.
Trade active
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10%+ Move done.1680 from 1510. I am expecting minimum 1750 target before a pullback.