GREAVES COTTON LTD ---POSITIONAL
DAILY CHART BULLISH SIGNS.
1. Double bottom formation around 155-156 level from where trend reversal seen
2. Trendline breakout seen at strong support line 160-165
3. Last candle bullish strength seen at high of candle 178 is short term resistance
4. uptrend confirm once 180 level breakout upside at closing basis that means...
Entry – CMP 157 (breakout was 156.8)
Stop loss -150.6 (Deep Stop 137)
Target 1 – 205.1
Target 2- 290.25
Duration – 2-3 years
Co produces electric engines for offices generators and ebikes (high demand for their products)
Co is almost debt free
Expect current financial year (Mar 2021) Co was making decent and consistent profits
Co is trading at Par Valuation...