Gujarat State Petronet Ltd. is an interesting chart with following
FUNDAMENTALS :
The company is one of the largest players in the natural gas transmission business in India together with its leadership position in Gujarat and strategic location with connection to all major natural gas supply sources
1. Company is almost debt free.
2. Company has a good return...
GSPL - a PSU, MCAP>₹ 17,000 Cr., IV>850 (really worthy to buy at low levels), RoE>18, RoCE>26, Less Debt, PEG<1, OPM>19%, (Investments+Reserves) = ₹ 10,000 Cr.
On Mar 2024, Promoters=37.63%, FII=15.67%, DII=24.74%, Govt=2%, Public=20%
As per the golden rule for any PSU with huge stake with FII/DII, its always GO WITH THE FLOW like buy at low levels when PE is low...
Price is in an uptrend since June 2022 low of 209.
In April 2023, Monthly MACD turned positive.
This suggested that as per past pattern, price is likely to continue its ongoing uptrend and make a new all time high.
Bullish outlook remains intact as long as price is above 250.
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Fundamentals are good but current performance not as expected. Good for long term holding also.
Closing above the trendline is important.
Buy - 292
Lower level buy near trendline on bottom side.
Target - 297 / 307 / 330
SL - 250
In the Weekly Chart of GSPL ,
we can see that, hammer candle is formed .
Soon we will see a Inverted Head & Shoulder breakout in it.
Expected momentum is shown in chart.
📊 Pattern: Rangebound Zone
📌 Symbol/Asset: GSPL
🔍 Description:
Moment Stock with Strong Support, now retesting for further upside.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
