Gokul Agro' Resources Ltd (Edible Oils): ₹29.40 (onRequest)
The stock is trading in a price channel having a 10 points wide approx. & currently at mid channel support and a 55DMA support. The stock is not fundamentally sound, with huge debt burden and even though there is a surprising sales growth, the profit growth is marginal and ROE 8.3% is just a normal reading. With the current pace of movement one cannot expect a better gain from the stock.
It may move a side way between ₹27 to ₹32 level and on touch of the major trend line support around ₹28, the stock always shown a tendency to have vertical jump towards the resistance may be ₹40 approx.
The above is a hypothetical view and can change any time, based on the market condition or company’s performance. Ok.
My two cent:
I am far away from the real market, working abroad, using the data available on internet, and don’t have an exact picture about most of the stocks individually. Hence don’t take it from me alone, if you know the company and you believe in its performance you can stay on. Otherwise try to come out of it when you get a good price.
Comment:
sluggish move, and correction is faster than expected