After a long downtrend Gujarat Alkalies is showing signs of recovery. Fundamentally it is available at a TTM PE of 5.6 with PEG ratio below 1 and PB ratio of 1.1. Buy at current price for a target of 650, 750 and above with a long term stop at 465. Do your own research before investing.
Target for H&S Pattern is Difference between Neckline to Head, Here it is 263.
So if we deduct 263 from Neckline, It Becomes @ 414
Start Accumulation for Decent Gain.
Detailed Analysis on Chart.
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This stock is showing good volumes but facing resistance at top at 818.
It has formed an ascending triangle pattern and is at support.
One can long once it breaches 818 for long term.
Maintain SL and Trgt as per risk appetite
In longer time frame, it is in strong uptrend.
In weekly, it is bounced from the support of ascending channel. Also hidden bullish divergence is seen.
sl - below channel support - 375.
1st tgt - 470, 2nd tgt - 520.
GUJALKALI: @ 407
#1 Harmonic BULLISH BAT formation.
#2 traded at Fib Retracement 0.618
#3 Technical Parameters Favours to LONG.
The industry has witnessed accommodative and bracing policy initiatives including amicable FDI
regulation (100% through direct route), reduction in excise duty from 14% to 10%, increasing share in