#GMDC looks to aim 550-1750+ in next 2-3 yrs???#GMDC looks good to aim for 550-1750+ in next 2-3 yrs
Reason:
If you observe from 2001 to 2008, price jumped to almost, 8.618% on fib (refer markings on chart)
Assuming the same trend, and considering the price valuations along with Company fundemantals, expecting this scrip to be Multibagger to touch 2.618% viz., 550+ and 8.618% viz., 1750+
GMDCLTD trade ideas
GMDC LongA Very good company with good distribution network also with Strong Technical chart breakout.
If this stock will sustain above 71 level and give breakout above 74 level after 2-3 days Consolidation with good volume we can see massive up moce on this stock so, keep on your eyes on that.
TGT 1 81(15days to 1month)
TGT 2 90(2-3 months)
GMDC - RevisedCMP 44.2
The last time I drew my lines, I had disregarded the low on 1st June of 34.2 due to which my stop loss was hit.
The revised base line in the Ascending Triangle shows that the support was was actually not breached. However, Stop loss is our best friend at nervous points. Falling is alright but to be a winner one should accept the mistake and move on with a learning.
MACD is positive at the moment with a bullish crossover.
Now , we can also see that a Golden Cross looks very likely in the coming days which would only add on to its momentum.
Fundamentally also the stock is strong.
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