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PL Technical Research: Buy GARDEN REACH SHIPBUILDERS (GRSE) - Medium Term Tech Pick
Prabhudas Lilladher Pvt Ltd
PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.
PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.
BUY GRSE CMP: 810 TRGT: 907 SL: 770 - MEDIUM TERM TECH PICK - The stock has witnessed a decent consolidation phase near the important 50EMA level of 765-770 zone and currently with a positive candle formation has come out of the rectangular box to improve the bias and anticipate for further rise in the coming days. The RSI has indicated a trend reversal from the oversold zone and currently is well placed indicating strength to carry on with the momentum still further ahead from current levels. With the chart looking good, we suggest to buy and accumulate the stock for an upside target of 907 keeping the stop loss of 770.
