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.
Huge Triangle consolidation and flag pattern inside.
For low risk traders buy on breakout for targets 480-500 with a SL of 440 on daily closing
For swing and investment pov, buy at cmp, add on dips till 420-400
Targets 480-500-528-553++
SL 400 on daily/weekly closing.
Go Long above 231.75 for Targets of 255.8 and 279.85 with SL 207.7
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Hammer (marked...
NSE:GRSE - Garden Reach Shilbuilders is showing a good, clear upmove after breaking a rectangle consolidation zone.
In last 1 week's trading session it shows a strong positive upmove with increasing volume build up. Perfect to poise to move towards 550 zone in near term.
Buy zone: 495-505,
SL: 480,
Target: 550
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 501
#This is not Buy and Sell recommendation to any one....
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....
DON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:00 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 5-7% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 3% or closing below the low of the breakout candle
The levels mentioned...
