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 ...
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 entered into a rectangular consolidation in November 2014 after stupendous rally, then entered into a consolidation mode for 2.5 years. The breakout has happened with large volumes, followed by retracement and upward move again. Put a Stop Loss at 143 and go long for a target of 210