Great Eastern Shipping GESHIP --> LONGTechnically Sound to go up at bottom of Uptrend channel.
Oversold past few months.
Buy only after huge Demand and Retest around 300.
Fundamentally, Good outlook to produce profits as Crude oil shipping has seen increasing demand with backbone of Manufacturing requirement output higher than 2020.
Risk Within your apetite only!
Trade ideas
buy for swing trade super bullish price can give a good bounce back from here, anticipating a trend reversal from the current market price
A good trader never predicts a move in stock market because nobody can predict the market. A good trader anticipate a move through his technical and fundamental analysis . And there is no 100% sure trade, there is always risk involved. Don't forget "Risk hai toh ishq hai ! "
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#supply #demand #priceaction #price #support #resistance #position trade
How to trade using simple Support/Resistance?The concepts of trading level support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. Part of analyzing chart patterns, these terms are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction.
There's a little hint hidden in the chart that will help us decide the bias of trade, spot and comment below🧐.
First one to spot will be blessed with 99% success rate :)
SIMPLE WORKS BEST I've linked my previous analysis also , which gave 55%+ gain in less than 20 days ,see how a simple S/R works like a charm.
GE SHIPPINGTime for GE SHIPPING
GE SHIPPING formed a very strong DIAMOND PATTERN on Weekly Charts
we have seen BREAKOUT from the pattern with HUGE VOLUMES
levels we may see around 600 for midterm
STRONG CHARTS STOCK RESUME UPTREND
Buy GE SHIPPING
CMP 397-398
ADD MORE WHEN IT COMES DOWN TO 380-385 LEVELS
SL 350
TARGET 460, 500
QUOTES ARE ONLY FOR EDUCATIONAL PURPOSE
Multi Year Breakout - Cup and Handle PatternGreat Eastern is involved in the business activities of Sea and coastal freight water transport.
The stock has broken out of a multi year resistance with good volume and Cup & Handle formation on charts.
The stock is fundamentally good. Mutual funds have also raised stake in the company and is holding around 22.91% stake.
Further, the chart is self explanatory.
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