Shitij Gandhi SMC Global Securities
In the recent past, Gujarat Fluorochemicals has formed a rounding bottom pattern on the daily charts just below its 200-days exponential moving average and recovered sharply thereon to test Rs 840 levels in short span.
We again saw buying momentum coming into the stock this week along with heavy volumes and positive divergences on the secondary indicators, which suggest for more upside in coming sessions.
Traders can accumulate the stock in a range of Rs 830-840 for the target of Rs 922 and a stop loss below Rs 775.
Disclaimer: The author is a Senior Research Analyst, SMC Global Securities Ltd. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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