Generic Construction ready for 5-8% move

By | March 4, 2018

We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan and 18 Feb Stock continue to trade at Life highs .It close above 218 and is now trading at 234. Almost 8% move in 2 weeks in Such bad market conditions.

Strength of stock also surprised me, When most of mid and Small caps were taking beating Generic was standing like a ROCK. As per BSE Generic has a extra ordinary AGM scheduled at 10 March.

Agenda looks very detailed with Pref- Cap allotment, I would suggest readers to go through the link and read the full document, suggesting the rally can continue further. In last analysis we gave a target of 271 till 31 March which Still Hold true, Many traders missed entry as afraid to take trade in weak market conditions can use coming week to enter stock and make some quick money.

But as we have an Event happening on 10 March so traders with extreme short term view can take a bet on Generic with a quick move of 6-8% in a week time frame.

Weekly/Daily Chart looks very bullish.

 

Remember the Golden Technical Rule Ride the Trend till it bends. Stock is Listed on BSE and Ticker is GENCON.

Fresh Long in Range 232-233 Target 248-251  SL should be kept at 225 on closing basis by 09 March.

The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis based on my Studies.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.Bramesh Bhandari and his family/associates/ analysts would have exposure in the securities mentioned in the above article.

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