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.
Please check in 4 Hour Candle and Check the Monthly Candle you will see the price has already hit the resistance and turning down , You will see in daily candle the price rejection in Upper wick , and You will see it in 1 Hour candle about return of price movement , Why you still bet on it when it has been rejected , its been moving up form many months , i strongly believe its time for small retrace in the price movement ,
Please look the price action before jumping in Volume based trigger Trade
Cheers
vanathi
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@shiv2798, For investment we have to check daily,weekly and monthly chart for analysis. Price will retrace in any time frame even it is monthly or weekly. I agree there will be retracement, but thats the time when investors enter. Thank you for sharing your view...
shiv2798
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@vanathi, Yes for investment you are right but exactly not at this time where price was moving up trend from 5 months
Look back it's not been retreat from 5 months , the long term investors will start selling,
You want to buy now ?
Good luck