Greaves cotton has been sideways between 113-145 since 8-9 months.A close above trendline i.e. 149-150 should be watched.Again monthly MACD is in sell at present watch if it gets into buy on 31-07-2018.If MACD gets into buy mode it could be big trigger & stock could go new lifetime high & start bull run.
The stock has been stuck in a trading range for almost 3-years now. The volume signature within this trading range indicates that major accumulation is underway in this stock. The price action in the past few weeks has been very constructive with volumes picking up along with momentum to the upside.
I am watching this stock with interest and would buy it either...
Greaves Cotton appears to be at a point of strong previously proven support point. Also, the stochastic indicator shows a bullish cross over. Going long seems like the right thing to do.
Midcap greavescotton after making lifetime high in feb-march 2017 of 178 has been in correction since 7-8 months.On mahurat trading day pattern looks like breakout of falling wedge.Again this bounce has come from 200WEMA which makes its credible.MACD on weekly charts is oversold so this can be best opportunity for entering this script.Last 3 years strong support...
....... Detailed mentioned on Chart.
DIWALI to DIWALI INVESTMENT.
LONG @ 129 - @ 133 range for Expected 30%+ Yearly return.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Greaves Cotton Limited is a holding company, which is engaged in manufacturing of engines and engine applications, manufacturing and trading of agro products, trading of spares related to engines and construction equipment. The Company's segments include Engines, Infrastructure Equipment and Others. Its Engines segment includes agro products and gensets. Its Infrastructure Equipment segment consists of equipment used in road construction, bridges, dams and mining, among others. Its Others segment includes products traded by international and aftermarket business. The Company has manufacturing facilities in the states of Maharashtra and Tamil Nadu. Its products are sold in India with export to the Middle East, Africa and the South East Asia Region. It produces products and services for market segments, such as real estate, construction, information technology (IT)/IT enabled services (ITES), retail, hospitals, banking and finance, railways, manufacturing and process industries.
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GREAVESCOT
