June 01, 2017
GSPL (NSE Cash)
174 - 175
14 - 21 sessions
Source: Falcon (Time: 14:30 IST)
The stock had given a breakout from a ‘Trendline’ and rallied sharply in the month of April 2017. However, after a decent rally,
we witnessed a decent corrective move in the stock. As a result, the stock retest its ‘Trendline’ breakout levels, which c coincides
with the 61.80% retracement levels of the recent up move (see exhibit). The up move was support by huge volumes; while the
correction was on low volumes. Today, we are witnessing a breakout from a ‘Triangle’ pattern on hourly chart. Also, the ‘RSI-
Smoothened’ oscillator on daily chart is giving a positive crossover with its average. Considering the above reasons, we are
expecting resumption in the uptrend.
Hence, we advise traders to
buy this stock at current levels and on declines at
for a target of
188 over the next 14- 21 sessions. The stop loss should be fixed at
Jay Kumar Purohit
022-3935 7600 Extn: 6844
June 01, 2017
Last 9 recommendations
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1327 - 1335
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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