Greenply gave a Bullish Happy Candle

Greenply Industries Limited (GIL) is India's largest interior infrastructure company. It accounts for almost 36 percent of the organized plywood and 26 percent of the organized laminate market in India. The main products of the company are plywood and blackboards, doors, decorative veneers, PVC products and speciality plywood. Greenply Industries CMP is 169.50.

Negative aspects of the company are declining cash from operations, FIIs are decreasing stake and MFs are decreasing stake. Positive aspects of the company are improving annual net profits, no debt and zero promoter pledge.

Entry after closing above 172. Targets in the stock will be 182 and 194. Long term target in the stock will be 207. Stop loss in the stock should be maintained at closing below 134.