VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds


Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Go
Feedback
You are here : IndiaNotes >> Research & Analysis >> Companies >> Gujarat Pipavav Port Ltd. >> Research

Technical Stock Pick: Buy Gujarat Pipavav Port

HDFC Sec | 20 Mar, 2017  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 0.0 Based on 0 ratings)



Observation:


- The attached weekly timeframe chart of Gujarat Pipavav Port Ltd (GPPL) seems to have reversed its corrective leg during this week as the stock price showed smart upside bounce back, as per week’s closing.


- Presently, the stock price has bounced back sharply from near the support of Rs.150-early March-17, as per the concept of change in polarity (green dashed horizontal line) and closed above it. This is positive indication.


- The positive sequence of higher tops and bottoms is intact and the recent swing low of Rs.150 levels could now be considered as a new higher bottom of the sequence. Now, one may expect further upmove from here to form a next higher top of the sequence.


- Weekly 13 period positive swing indicator like +DMI has turned up post formation of pivot high at 31 levels on mid of Feb- 17. Weekly trend strength indicator like 13 period ADX is now making attempt to turn up from near 20 levels.


- Both of above patterns of +DMI and ADX oscillators are indicating that the uptrend strength and the upside momentum in the stock price is increasing.


- The overall positive chart and momentum pattern of GPPL is suggesting a long trade set up for near term. One may look to buy GPPL as per the levels mentioned above


Recommendation:
HDFC Securities recommends investors to buy Gujarat Pipavav Port between Rs164.95 and Rs151 for targets of Rs185/210 with a stop loss placed at Rs147.50 in 1-2 months.



  Read full report Click here to read the full report

logo
BSE
168.75 +2.75
(1.66%)
NSE
168.10 +1.60
(0.96%)
Read More
About HDFC Sec

HDFC Securities a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec.com provides investors a robust platform to trade in Equities in NSE and BSE , and derivatives in NSE. Our website will support you with the highest standards of service, convenience and hassle-free trading tools.


For more information please write in to [email protected]


Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




Technical Calls

What are technical calls?

Other Articles