On a long term chart, GNFC has retraced 61.8% of the move from 53 to 548 and rising RSI from an oversold region indicates a bounce that could take it to levels of 300/320. One may buy on dips with a SL of 230 and targets mentioned.
It is a short term/Medium term call.
It is a short term/Medium term call.
Comment:
Made a high of 276.
Trade closed: target reached:
GNFC moves above 300 and makes a high of 310. Target T1 achieved. Gave return of almost 20%.
Trade closed: target reached:
Target T2 achieved and moved beyond. Made a high over 330. One may book profits. A move towards 347 on the cards if levels of 320 sustained.