Bullish Pennant Pattern formation on Greaves cotton Daily chart.
I am showing two levels of support and one Resistance level. I see two entry positions based on where the stock is heading in the near future.
Stock Heading Up: The resistance is the downward trend line. Check for strength (increased volume, good candle formations) if it breaks the trend line and...
GreavesCotton - Lots of promise but hardly delivers. took years to cross 90-105 range and it 105-135-150 was the range in which it remained for 5 years. COVID crash and several attempts to cross the 90+ barrier. Bullish only above 105 on monthly close.
DISC: Not a SEBI Registered. I post charts for my own study.
Greaves Cotton Currently Trading Near 88. 90-91 Zone is the Strong Resistance and Closing Above this level will Trigger a Big Move leads to first target of Rs. 125 and then Rs. 150. Stop Loss is 78 on Closing Basis