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GARDEN REACH SHIP&ENG LTD
Long

GRSE: Breakout mode after a consolidation

By pradipandsuvra
Updated
GRSE - Garden Reach Shilbuilders is showing a good, clear upmove after breaking a rectangle consolidation zone.

In last 1 week's trading session it shows a strong positive upmove with increasing volume build up. Perfect to poise to move towards 550 zone in near term.


Buy zone: 495-505,
SL: 480,
Target: 550


Note
Right now the GRSE is clearly in an upward channel. I personally Bullish on this stock.
If you draw a parallel trandline (regression channel) from 11-Oct to end of Nov, you will see it's an upward channel (hence Bullish) with the ranges as 465-540.
So right now it seems a candidate of Swing trade only.
Chart PatternsGRSEindianstocksanalysisstocktobuystocktowatchforTrend Analysis
pradipandsuvra
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