GUJARAT PIPAVAV PORTS LONG

10 thg 6, 2021

Here is the weekly charts of Gujarat Pipavav Ports. (OPEN CHART FOR DETAILED VIEW)

Firstly, a historical crucial zone (117-112) is again in action. The price today crossed this zone but wasn't able to sustain above this 7 year old zone, and came back to the purple area. Here the volumes are very high, THIS MEANS THAT THE STOCK CAN GIVE A GOOD BREAKOUT.

Secondly, an inverted head and shoulders kind of pattern can be seen on the weekly charts. This is followed by a breakout of the pattern line.

These two major points shows bullishness in stock, but what mat create worry among traders at this point is the non-sustainment of the price above the crucial zone. Hence, this gives us two cases:

Risk averse traders are advised to take entry above 122 (sustainment)
Risk takers may take entry here

LEVELS

Entry: Above 122 for risk averse; CMP for Risk takers
Target 1: 132
Target 2: 156
Target 3: 172

STOP LOSS: 108
TRAIL STOP LOSS

RSI: Shows momentum
Volumes: What else do we need
MACD: Bullish

Risk-Reward Ratio FAVORABLE

I would recommend going long on Gujarat Pipavav Ports (with prescribed levels) for a swing trade

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