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Podcast | Today's Pick: Great Eastern Shipping Company

Gitanjali Diwakar | Updated on April 22, 2020 Published on April 22, 2020

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.

Published on April 22, 2020
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