January 10, 2017 / 17:26 IST
ICICI Direct's research report on GSFC The key observation on the price chart of GSFC is that the entire up move since the May 2016 bottom has occurred in a well defined rising channel highlighting a structured up move and persistent demand at elevated levels The sharp up move from lower band of the rising channel and 52 week EMA (Rs 81) indicate resumption of upward momentum and provide entry opportunity to ride the up move towards the upper band of medium term up-trending channel around Rs 118 levels over the coming months.
Outlook
Based on aforementioned observations, we believe the stock is likely to continue with its current rally and test the upper band of the rising channel (Rs 118), which also coincides with the price parity of the previous up move from Rs 65 to Rs 106 as projected from the recent trough of Rs 77, thus providing upside towards Rs 118 in the coming months.
For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
