GHGL Technical Analysis: Bullish Setup in PlayGHGL (Ghani Glass Limited)
Price is trading above the 89 Fibonacci EMA, a level it has historically respected, reinforcing the bullish structure. Currently, it sits at a strong support zone near the 0.5 Fibonacci retracement, aligning with the ascending channel support. RSI is in sync with the setup, adding further confirmation.
The first buy is positioned at CMP, with Buy 2 placed lower in case of a healthy pullback for a stronger average. TP1 targets the recent higher high/resistance, and TP2 aligns with further upside potential. Stop loss is placed below the previous higher low or a closing below the 89 EMA to define risk.
Recommended Levels:
Buy 1: 46.85 (CMP)
Buy 2: 45.00
Stop Loss: Closing below 41.50
Take Profit 1: 52.20
Take Profit 2: 56.80
Potential upside remains as long as price sustains above the ascending channel support and 89 EMA. Happy trading!
