GUJRAT PIPAVAV (GPPL)
- As per previous report published on Gujrat Pipavav port (GPPL) stock have shown sharp up move after breaking its resistance @ 128 and after that touched it reistance @ 140 as mention in out previous report. (Click here to see previous report published on GPPL).
- Now current chart indicates that stock is moving in up channel formation, this signifies that as long as stock is trading in between its channel formation it will be favored by bulls, but once stock comes out from its up channel and breaks it on down side then sharp weakness is expecting. As shown technical chart no1.
- Suggested Reading - HPCL moving up from support, will favor bulls once it closes above it trend line resistance.
- As per graph no2, stock is trading above its 50 days moving average, but looking closely chart indicates that 50 DMA is playing very important role in GPPL, as long as stock trades above bulls will have a strong grip, from last 4 times stock bounced back from 50 DMA, this time too its is trading near by , Close watch bulls may get active once again. On upper side stock will find next trend line resistance around 155, once stock closes and stays above 155 then stock looking bullish for next few trading days.
- Intraday share tips - close watch when GPPL starts trading above 155 during market hours , if holds above then intraday bulls action is expecting.
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- As per graph no3, Gujrat Pipavav is trading above its resistance 161.8% fibonacci retracement, previous resistance is now acting as a major support , so as long as it trades above it fibonacci retracement resistance it will be favored by bulls. Once stock closes blow then it will show sign of weakness. Close Watch once stock closes above 155 and if moves up then will find next strong resistance around 163 its 261.8% fibonacci retracement.
- Click here to see all the free trading reports (tips) published by us on GUJRAT PIPAVAV (GPPL).
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