The long-term outlook is bullish for the stock of Gujarat Ambuja Exports (₹285.85). The stock has been in a strong downtrend since April 2022. However, since December last year, the stock has been broadly consolidating between ₹220 and ₹300. All through this consolidation phase, the 100-Week Moving Average has been giving strong support for the stock and limiting the downside. This indicates a strong base formation and leaves the chances high for Gujarat Ambuja Exports’ stock price to breakout above ₹300 in the coming months. Such a break can take the share price up to ₹370 initially.
From a long-term perspective, Gujarat Ambuja Exports’ share price has potential to target ₹500-₹520 over the next one year. Investors with a minimum of one year time frame can buy the shares of Gujarat Ambuja Exports at current levels.
Accumulate on dips at ₹265. Keep the stop-loss at ₹190. Trail the stop-loss up to ₹310 when the price moves up to ₹390. Move the stop-loss further up to ₹370 when the price touches ₹430. Exit the stock at ₹480.