GRANULES INDIA making day by day high with huge volumes, today it has given break out zone 220 above and sustained above closing successfully. one can accumulate
at the CMP for another 25 points up move which tends for a target of 240 &250 zone.
granules india is forming higher highs and higher lows on higher timeframes and it has recently broke long term resistance;
As per fibonacci trend analysis at can touch target of 256.
Granules has broken out of a triangle pattern after contracting for a sometime. The stock has shown good relative strength and has reached near its 52 Week high.
It is above all the major Moving Averages (20,50,100,200)
A swing trade can be initiated once there is price action confirmation above the breakout and one can enter after a pullback.
Granules India: Weekly Chart. Initially seen breakdown from symmetric triangle, but later BO was seen and also did retest of Breakout zone 133 around. Price action has now changed to HH & HL, also RSI has improved and is abv 50 on both Monthly & Weekly char, it's a healthy sign.
Granules closed at top line of a very interesting pattern.
Once it breaches this pattern, it can move up faster. Something similar to what Gold and silver did yesterday, look at the charts I've shared yesterday.
Buy above 188 and if you take it as a short term trading position keep a stop loss of 180.
Otherwise, this is a good portfolio buy, one can hold it...