GIPCL Gujarat Industries Power Company LimitedGIPCL breaks out after 5 to 6 months from its range of 160-238.
It can act as good support in near future.
Points to be considered:
1. Stock has good fundamentals also.
2. Future growth expections is high.
3. Company expanding its business by creating more energy.
4. Promotors holding above 55%
GIPCL trade ideas
GIPCL looks bullishGIPCL on a weekly time frame. It is trading at its support level, the resistance level a few sessions ago. There was volume when it broke the resistance level and was cooled down. There is no significant volume during correction time. It would be a high-probability trade if it retests the 142 level and starts climbing up. It will become weak below 130 levels. If you check the strength (RSI) monthly and weekly, it is above 60 & daily taking support on 40. Wait and watch price action for more confirmation to trade GIPCL.
saucer pattern formation • weak chart analysis
• my first saucer pattern discussion
• stock GIPCL chart pattern formation like saucer
• stock October 2017 to September 2013 time taken to form saucer pattern
• Long-term consolidation means high potential for a big move
• chart consolidate between 68 and 94 multiple times
• The 128–130 level also serves as major resistance for the stock because in 2010 and 2011, the stock multiple times hit this level and returned, making it impossible to break out
• 130-level breakout and sustained from 2 sessions (weak)
• volume in stock is good
• volume indicating accumulation at lower level of the stock
• accounting fib retracement: 0.786 level 123, 0.618 level 106, next level stock 200+
• sentimental resistance for the stock: 150
• above 150 level stock touch 200 and keep stop loss 128-130 strick Stop lost
Prallel Channel Breakout - GIPCLPlease 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