Godawari Power and Ispat Ltd

Investors with a medium-term perspective can buy the stock of Godawari Power & Ispat at the current levels.
The stock has been in a bullish momentum over the past one week, after decisively breaking a key resistance at ₹170 last Monday.
Following a long-term downtrend, the stock recorded a 52-week low at ₹120 in late August. Subsequently, it started to consolidate sideways in a wide range between ₹130 and ₹170 over the past four months.
Last week, the stock broke out of this sideways movement on the upside and skyrocketed 32 per cent. There has been an increase in the daily volume over the past five trading sessions.
While trending up, the stock breached its 200-day moving average, and trades well above this average. Moreover, it has surpassed another key resistance at ₹200, by gaining 6 per cent on Friday.
The daily relative strength index (RSI) has reached the overbought territory’, implying that a near-term corrective decline can’t be ruled out at this juncture. Investors can make use of the corrective decline to buy the stock.
The weekly RSI has just entered the bullish zone. Also, the daily and the weekly price rate of change indicators are hovering in the positive terrain, indicating buying interest.
Though the medium-term outlook is bullish, the near-term correction is likely.
Hence, investors can buy the stock in declines with a deep stop-loss at ₹189.
Targets are ₹250 and ₹260.
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Paneer, once alien to the South, has found a lucrative market in Chennai
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Carriers claim that all measures — including pre-flight tests, cabin sanitisation and fresh air inflow — have ...
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
A virus swept aside 2020 plans to mark the 250th year of the birth of Beethoven. We need the German composer’s ...
Former MLA and farmer leader VM Singh on the violence that followed the January 26 tractor rally, the impasse ...
A mysterious new exhibit has been the centre of attraction at the gallery of Modern Art. This art work has ...
Tara was a curious little girl who loved to ask questions.She lived with her parents and her grandmother — ...
Social media influencers are flipping the rules by first getting followers and then launching products and ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor