Here is the weekly charts of Gujarat Pipavav Ports. (OPEN CHART FOR DETAILED VIEW)
Firstly, a historical crucial zone (117-112) is again in action. The price today crossed this zone but wasn't able to sustain above this 7 year old zone, and came back to the purple area. Here the volumes are very high, THIS MEANS THAT THE STOCK CAN GIVE A GOOD BREAKOUT.
Secondly, an inverted head and shoulders kind of pattern can be seen on the weekly charts. This is followed by a breakout of the pattern line.
These two major points shows bullishness in stock, but what mat create worry among traders at this point is the non-sustainment of the price above the crucial zone. Hence, this gives us two cases:
Risk averse traders are advised to take entry above 122 (sustainment)
Risk takers may take entry here
LEVELS
Entry: Above 122 for risk averse; CMP for Risk takers
Target 1: 132
Target 2: 156
Target 3: 172
STOP LOSS: 108
TRAIL STOP LOSS
RSI: Shows momentum
Volumes: What else do we need
MACD: Bullish
Risk-Reward Ratio FAVORABLE
I would recommend going long on Gujarat Pipavav Ports (with prescribed levels) for a swing trade
FOLLOW IF YOU LIKE THE ANALYSIS...
LIKE AND COMMENT WHAT YOU THINK ABOUT IT...
THANKS!
Firstly, a historical crucial zone (117-112) is again in action. The price today crossed this zone but wasn't able to sustain above this 7 year old zone, and came back to the purple area. Here the volumes are very high, THIS MEANS THAT THE STOCK CAN GIVE A GOOD BREAKOUT.
Secondly, an inverted head and shoulders kind of pattern can be seen on the weekly charts. This is followed by a breakout of the pattern line.
These two major points shows bullishness in stock, but what mat create worry among traders at this point is the non-sustainment of the price above the crucial zone. Hence, this gives us two cases:
Risk averse traders are advised to take entry above 122 (sustainment)
Risk takers may take entry here
LEVELS
Entry: Above 122 for risk averse; CMP for Risk takers
Target 1: 132
Target 2: 156
Target 3: 172
STOP LOSS: 108
TRAIL STOP LOSS
RSI: Shows momentum
Volumes: What else do we need
MACD: Bullish
Risk-Reward Ratio FAVORABLE
I would recommend going long on Gujarat Pipavav Ports (with prescribed levels) for a swing trade
FOLLOW IF YOU LIKE THE ANALYSIS...
LIKE AND COMMENT WHAT YOU THINK ABOUT IT...
THANKS!