the scrip has reversed from the support, bullish engulfing candle is there to confirm. In short this scrip is bullish. First target 800, second 900. conviction is strong in this idea.
The stock corrected for more than 26 months after listing forming the round bottom, the right side of the round bottom is noticed with weekly volume accumulated from the last 10 months showing the stock is ready for the rally. let's see how the stock reacts from here on.
GLS has given a breakout of rectangle pattern with hug volume buildup .
now stock trading near another resistance or breakout zone .
Company has a good return on equity (ROE) track record: 3 Years ROE 30.4%
GLS LTS gave ascending triangle chart pattern breakout with gud volume bar and strong bullish candle as well as weekly resistance zone and 52 weeks high today can play for swing trade with your prefered RR.
Greetings Folks,
today i have prepared a setup of GLS on NSE
the analysis is as follows
- price is in a range structure right now
- we are looking for a breakout in upper side
- if the price opens with gap up, better to enter at minor retracement
- if price dont breaks the range by noon, we wont initiate the trade
dont play with fire, always use a predefined stoploss
Looking really good as the latest day's candle crossed all the important moving averages with a bullish Marubozu(with huge volumes )and MACD crossover is about to happe .
Follow the levels (marked in blue color) for the targets and trailing SL).
Safe entry is above 644
