Comments
Graphite India share price has been in a strong uptrend since April this year. After a brief consolidation above ₹400 all through the month of July, the stock has started to move up again over the last two weeks. Immediate support is at ₹448. Below that ₹420 – the 21-Day Moving Average (MA) is the next strong support. This 21-Day MA has limited the downside very well all-through the consolidation that happened last month.
Graphite India share price can rise to ₹550-560 over the next three-four weeks. Traders can go long now. Accumulate at ₹452. Keep the stop-loss at ₹415. Trail the stop-loss up to ₹469 as soon as the stock moves up to ₹478. Move the stop-loss further up to ₹490 when Graphite India share price touches ₹510. Exit the long positions at ₹545.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.