Generic Construction ready for another round of rally

By | April 8, 2018

We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan 18 Feb  and 04 March Stock continue to trade at Life highs .It did our target of 251 and now trading at 249.5. Nifty corrected almost 1000 points but stock continue to outperform.

Strength of stock also surprised me, When most of mid and Small caps were taking beating Generic was standing like a ROCK. The outcome of Board Meeting is very good as promoters have issued fresh warrants and pre shares at 190 suggesting faith the management is having on company performance going forward. 190 should be Stoploss for all long term investor in this stock.

 

Weekly/Daily Chart looks very bullish stock is holding to it long term trendline. Till we are holding 240-41 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 250-252 Target 277/289/301  SL should be kept at 235 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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