Kesari-Bath

GRSE: Can go to 318 and higher

Long
NSE:GRSE   GARDEN REACH SHIPB
GRSE (Garden Reach Shipbuilders and Engineers) has finally broken through the long term resistance very convincingly with significant volumes. MACD is also in buy mode.

Entry: The risk-savvy investor can buy at the CMP where as the risk-averse investor can wait for a minor pullback towards 245-250 zone (38% retracement of recent upmove) for entry (a pullback is not guaranteed though).

Target: First target is 318 (21% from CMP ), although the stock can go much higher due to absence of overhead resistance.

Stop-loss: A weekly close below the stop-loss line should be taken as exit criteria.

Disclaimer: This is not a trading recommendation, but is only a predictive analysis for information and follow-up. NEVER trade without a protective stop-loss in place.