Generic Construction did 272,another fresh rally above 268

By | April 15, 2018

We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan 18 Feb   04 March and 08 April Stock continue to trade at Life highs .It did our target of 272 and now trading at 266.

There were some good announcement by Management in last week which fueled the rally for stocks, As we always say Price knows well in advance and we were able to capitalize on the rally.

1.  Media release – GENERIC bags order worth Rs 101.53 Crs

2.  Submission of Private Placement offer letter of Generic Engineering Construction and Projects Limited

 

Weekly/Daily Chart looks very bullish stock is holding to it long term trendline. Also forming the Pennant Pattern suggesting another small breakout on cards. Till we are holding 250-55 range at lower end stock can scale towards 277/300 easily.

 

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

Fresh Long in Range 267-68 Target 277/289/301  SL should be kept at 255 on closing basis

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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