Technical Pick of the Week #4 - Gravita India
.svg)
Aman Baheti
Price Action Analysis:
The stock corrected more than35% after negative news flows in the past 3 months. A steep recovery panned out over the last week with delivery-based buying. The zone of 1,100-1,120 can act as a resistance.
Moving Average:
The 20EMA converged and started trading above the 50EMA as per the last trading session. The stock can stabilize in the 1,090-1,150 zone before advancing for another rally.
Bollinger Bands:
The stock gave a breakout with more than average volumes in the last week. The optimal entry price is around 1,070 and immediate support is seen at 888.
Mool’s Outlook:
We anticipate a target of INR 1,300 with an upside of 20% in the next 8-9 months.
Stop Loss should be maintained at INR 935
The stock corrected more than 35% after negative news flows in the past 3 months. A steep recovery panned out over the last week with delivery-based buying.
Subscription Required
A subscription is required to read premium content. Memberships begin at ₹1,999/month with a 5 days free trial included.
