All the levels has been mentioned in the chart.. the stock is nearing a hurdle zone and once the hurdle is crossed fireworks are gonna happen.. Every year this stock moves heavily from April to September.. hoping the same this year as well
Graphite India looks good for short term above 816.
The following are the reasons which i believe is positive for this company
1) Approaching a trendline breakout
2) Rounding bottom breakout done
3) Continuously posting good profits for the past 4 quarters
4) FII stake has been increased
1. The stock had already given a 3 year trendline breakout and retesting of the trendline is also done
2. The stock had already formed a rounding bottom pattern
3. Witnessed the highest ever weekly volume in the history of the stock
4. Approaching a minor resistance area now. Breakout above that can fetch the targets mentioned in the chart
All levels are mentioned in the chart.
Cumminsind had already given a breakout early this year and a retracement to the trendline post breakout.. in the past weeks we saw some shootups in the chart and above 935 the script is all set to reach the targets as mentioned in the chart.