Comments
The stock of Great Eastern Shipping Company jumped 8 per cent with above average volume on Wednesday, breaching a key resistance at around ₹205.
Following a medium-term downtrend from the January high of ₹369, the stock recorded a 52-week low at ₹168 in late March. After moving sideways with an upward bias at around ₹200, the stock had recently breached its 21-DMA.
The short-term outlook is bullish for the stock. It can continue to trend upwards and reach the price targets of ₹232 and ₹236 in the upcoming trading sessions. Traders can buy the stock with a stop-loss at ₹217.
Comments
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.