Today's Pick

Gujarat Industries Power Company (₹98.2)

YOGANAND D | Updated on January 16, 2018 Published on October 31, 2016


Investo rswith a short-term perspective can buy the stock of Gujarat Industries Power Company (GIPCL) at current levels.

The stock has been on an intermediate-termuptrend since taking support at around ₹67 in September 2015. Key support at₹85haltedthestock’sdecline in the month of September 2016 and provided base. Subsequently, the stock resumed its uptrend and continued to move higher . While trending up, it breached its 21- and 50-DMAs and currently hovers wellabove them.

Last session, it surged 6 per cent breaking through a key medium-term resistance at ₹94. Both the daily and weekly relative strength indices have entered the bullish zone. Moreover, the daily as well as weekly price rate of change indicators feature in the positive territory.

Short-term outlook is bullish. The stock can continue itsupmoveand reach the price target of ₹102and₹105. Traders with a short-term view can buy the stock with as top-loss at₹96.

(Note:Therecommendations are basedontechnicalanalysis.There isariskof loss in trading.)

Published on October 31, 2016

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.