Generic Construction ready for another rally above 289

By | May 1, 2018

We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan 18 Feb   04 March  08 April  and 15 April Stock continue to trade at Life highs .It did almost did our target of 289 high made was 287  and now trading at 282.

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. I have drawn the planetary line between Sun and Mercury as seen in below chart, Stock has been respecting these line and breakout can be seen above 289 for a move towards 310/327.

 

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

Fresh Long in Range 287-289 Target 310/327/354  SL should be kept at 275 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.

One thought on “Generic Construction ready for another rally above 289

  1. Vineel

    Amazing pick Bhrameshji…Have been holding on to this stock from 35 levels

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