kvsrinie

Granules a good buy with a reaction

NSE:GRANULES   GRANULES INDIA
Looks like a real good buy here, wait for a reaction. Volumes have been down in this correction.
Good upward trendline support at 322, failing which, it will retest 305/295. Next target is 472 (will move quickly if it manages to cross all EMAs (all between 334-343 right now))
Comment: Stock is struggling around the trendline. If we see a positive reaction, it will retest the EMAs. If not, it will retest 305/295. The volumes are reducing, showing a weakening bear trend. Wait for a reaction here
Comment: Holding the trendline really well but it not able to defeat EMAs above. It will either break above & retest 375 or break below, retest 295 and come back up. Long term bullish still. Can buy more if it breaks above EMAs
Comment: Held the trendline well but struggling to go past the EMAs. Best case, it'll break up now, retest EMAs & the fly to 370/400. Worst case, this will break the trendline, come back up with more momentum & then defeat EMAs
Stoploss: 295