Generic Engineering Ready for another Upmove

By | February 20, 2017

Generic Engineering We covered this stock on Monday and Thursday and 16 Jan    and 02 Feb  and 17 Feb Stock has seen decent bounce from 83 levels and made high of 112 and also closed above 110 Last Friday.

Generic Daily Chart with Channel

As seen in daily chart stock has taken multiple support near the channel bottom and closed above 110 with rising volumes from past 2 trading session  stock can give move towards 121 in short term. Remember the Golden Technical Rule Ride the Trend till it bends. Stock is Listed on BSE and Ticker is GENCON

Generic Weekly Chart

Stock finally closed above 100, 100 is very important GANN resistance zone closing above 100 from past 2 weeks. Holding 100 Stock can see 144 in next 2 months easily.

Traders can take Long above 112  Target 123/136/144 in next 2 months, SL should be kept at 100 on closing basis.

 

This is not an investment pick  as I am not expert in Fundamental analysis but a short term pick for gain of  purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity.

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