Gravita India is forming a rounding bottom in weekly chart which indicates the bullishness of the script. Heavy volume indicates the accumulation of the script by the investors are high. I expect this stock to reach the price 80 in one year. The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an uptrend. This pattern forming in the weekly chart indicates this script is turning from bearish to bullish . When buyers enter the market at a low price, it increases the demand for the stock . Once the rounding bottom is complete, the stock breaks out and will continue the uptrend.
Trade active:
From 52.70 to 60 in 10 days...
Trade closed: target reached:
