Get started
pradipandsuvra

GRSE: Breakout mode after a consolidation

Long
GARDEN REACH SHIPB (NSE:GRSE)  
pradipandsuvra Updated   
NSE:GRSE   GARDEN REACH SHIPB
Trend Analysis Chart Patterns indianstocksanalysis GRSE stocktowatchfor stocktobuy
1
2
trendanalysis chartpattern indianstocksanalysis grse stocktowatchfor stocktobuy
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


Comment:
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.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.