A cup and handle pattern is clearly visible on the daily charts while on the weekly charts, stock has broken a long-term resistance around Rs 76.
I would consider this pattern to be bullish and targets of around 110 can be seen in a few weeks. We can expect a minor consolidation before a breakout and those can be very good levels to enter the trade.
Kindly note,...
Gujarat Raffia Industries Ltd. engages in the manufacturing of tarpaulin and polypropylene bags. Its products include HDPE tarpaulins, PP bags, wagon cover, fumigation covers, vermibed, geomembrane, azollla bed, grow bags, tents, plastic sheeting, and PP ropes. The company was founded on July 30, 1984 and is headquartered in Gandhinagar, India.
NSE
