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
Technically:
#1 Harmonic BULLISH BAT formation.
#2 traded at Fib Retracement 0.618
#3 Technical Parameters Favours to LONG.
Fundamentally:
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
planned...
