Generic Construction Gives Breakout

By | September 16, 2018

We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan 18 Feb   04 March  08 April  15 April  01 May and 09 Sep Generic Gave a textbook style breakout and did our initial target and heading for our next target of 377.

Traders also be aware Stock is going for Split on 18 Sep so price will become half and number of Quantity of Shares will double. Please read the below link to get the information.

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20180911-46

Weekly/Daily Chart looks very bullish stock is holding to it long term trendline. Stock has been consolidating in 38 points range as seen in below chart.

Generic has given the breakout and waiting for the next target of 377 as per below calculation.

Initial Target calculation 339+38 = 377

 

Breakout is seen as per Planetary Line heading for target of 377.

 

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

Fresh Long in Range 177-179 Target 189/199/211  SL should be kept at 160 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.

2 thoughts on “Generic Construction Gives Breakout

  1. Nanmith

    Hi Bramesh

    Excellent review and bulls eye on the target, do you think stock will hold after the split or it will go down ?

    Regardsp

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