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
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.