NSE:MAZDOCK has out-performed its peers NSE:COCHINSHIP and NSE:GRSE since the start of 2023. However, all 3 stocks have out-performed the market. These 3 have created significant wealth for investors. Fundamental triggers are plenty for these companies. Defense sector is looking very strong and one should definitely keep an eye on these 3. Order book is also...
Garden Reach Ship builders got listed in the month of Oct'18. It had entered a consolidation phase in Sep' 2019 which lasted for 4 long years.The scrip broke out of consolidation in the month of Aug'22 and has since more than doubled.
The stock has been continuously rising and has also broken out of an ascending channel in the ongoing month of Aug'23.
A defence sector play, GRSE looks poised for an upward momentum after 26 weeks of consolidation. Sustained momentum above its breakout level of 564 will be positive.
Good support zones around 510, 450 and 400 levels.
However, as always, keep a stop loss of 5-8% if the trade goes wrong.
Stock Name - Garden Reach Shipbuilders & Engineers Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 469
#This is not Buy and Sell recommendation to any one....
Garden Reach Shipbuilders & Engineers Ltd - 22.12.2021
The stock is trading @ 218 levels
The stock is witnessing higher highs since 20.12.2021
There is a MACD Bullish Divergence in Daily chart
The prices are above ema
One can initiate a buy position @ current levels with support @ 206
watch out for the price action
The analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.