GSPL consolidated towards lower levels of 300s and has met enough demand to sustain these levels for the past few weeks. Negative MACD is waning from sell-side to buy-side. One can take a medium to long term position in this stock. Fundamentally this company is doing very well. Increased its topline revenue and market share. Trading at P/E at lower levels of 11 against the sector average of 26ish. The biggest competitor is Adani Total which is trading at an insane valuation of 350+ P/E. Keep adding at lower levels of Rs300 with a target of Rs387 (Previous Top) and 127% of Fibonacci extension Rs 440.
Disclosure: I am invested in this stock from 320 levels.
Enjoy Trading. I'll keep updating.
Regards,
Robus.
Disclosure: I am invested in this stock from 320 levels.
Enjoy Trading. I'll keep updating.
Regards,
Robus.
Comment:
The stock has maintained 300 levels amid all downside and consolidated beautifully and returned to 320s. This stock should break out with a big punch that would validate the upside trend in the next few weeks.
Trade active:
The trend is still Intact. Wait and Watch. Below 290 would be a trend breach. One can take a position with a tight SL of Rs 280