Gujarat Sidhee Cement LTD bettered its August 2014 high of 44.5 in early Jan 2021 by giving a 45+ close. Since then, the stock slipped back below the long term weekly resistance level of 39 (shown in the chart as a horizontal blue line) and stayed below 39 for many months.
The stock finally broke above 39 this week and managed to close at a multi week high of 42.2. As the chart shows the stock is a clear buy and the best part is that any weekly/monthly closing above the 44/45 double top can potentially lead to a massive multi month/multi year bull market in this stock.
Targets: Once 44/45 is broken on a weekly basis the stock will first target the resistance trendline shown on the chart (red TL). The current value of that trendline is around 55. Once the stock goes above 44 it will be at an all time high and can go much higher so ideally the stock must be held for the long term with a trailing stop loss.
Stop Loss: one can stay long with a WCB stop loss of 38/39. Longer term investors can buy this stock with a deeper SL of 35.
GSCLCEMENT can be bought at CMP and can be added once it gives a weekly close above 44. Consider this to be a mid to long term investment.
The stock finally broke above 39 this week and managed to close at a multi week high of 42.2. As the chart shows the stock is a clear buy and the best part is that any weekly/monthly closing above the 44/45 double top can potentially lead to a massive multi month/multi year bull market in this stock.
Targets: Once 44/45 is broken on a weekly basis the stock will first target the resistance trendline shown on the chart (red TL). The current value of that trendline is around 55. Once the stock goes above 44 it will be at an all time high and can go much higher so ideally the stock must be held for the long term with a trailing stop loss.
Stop Loss: one can stay long with a WCB stop loss of 38/39. Longer term investors can buy this stock with a deeper SL of 35.
GSCLCEMENT can be bought at CMP and can be added once it gives a weekly close above 44. Consider this to be a mid to long term investment.