Buy Great Eastern Shipping Company for target of Rs. 495
Posted: Tue Apr 18, 2017 10:12 am
Great Eastern Shipping Company Ltd - BUY
CMP: Rs 421-428; 6 Months Target: Rs 495; Stop Loss: Rs 364; Upside: 16.5%
The Great Eastern Shipping Company Ltd. is trading in a strong higher top higher bottom chart structure. Analyzing the longer time frame, on weekly chart, the stock has given an Inverse Head & Shoulder breakout. Tracking the recent trading activity, the stock is continuously forming long positions with rise in delivery volumes, indicating a continuation on this uptrend up to 495 levels. This suggests The Great Easter Shipping Company Ltd. is all set to resume its northbound journey. The stock has a potential first target of Rs 495, translating into 16.5% returns.
IIFL
CMP: Rs 421-428; 6 Months Target: Rs 495; Stop Loss: Rs 364; Upside: 16.5%
The Great Eastern Shipping Company Ltd. is trading in a strong higher top higher bottom chart structure. Analyzing the longer time frame, on weekly chart, the stock has given an Inverse Head & Shoulder breakout. Tracking the recent trading activity, the stock is continuously forming long positions with rise in delivery volumes, indicating a continuation on this uptrend up to 495 levels. This suggests The Great Easter Shipping Company Ltd. is all set to resume its northbound journey. The stock has a potential first target of Rs 495, translating into 16.5% returns.
IIFL