Generic Engineering We covered this stock on Monday and Thursday,16 Jan ,02 Feb,17 Feb , 20 Feb and 27 Feb Stock made High of 122 near our Ascending triangle pattern of 123 and corrected also till 100 levels which is gann support.
Generic Hourly
Generic Hourly Chart is facing resistance at downward falling trend line, breakout above 115 for a move towards 122/130
Generic Daily Chart with Channel
As seen in daily chart stock has taken multiple support near the channel bottom and bounced back again. Remember the Golden Technical Rule Ride the Trend till it bends. Stock is Listed on BSE and Ticker is GENCON
Generic Weekly Chart
As per Classical Technical Analysis Resistance become support , Stock saw correction made low of Rs 100 as shown in above chart and bounced back, suggesting 100 will keep playing an important role.
Traders can take Long above 115 Target 123/136/144 in next 2 months, SL should be kept at 100 on closing basis.
This is not an investment pick as I am not expert in Fundamental analysis but a short term pick for gain of purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity.