GP Petroleums Ltd on a daily chart stock price is trading above 20 DMA & 50
DMA, indicate stock is well placed above the support level. On a weekly chart
stock has formed the rounding pattern and its closed at the breakout, any trade
above 84.70 stock price can rally more than 30 percent, indicate rally will
continue towards north. Momentum oscillator MACD uptrend is intact, which add
more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above Rs. 84.70 for the target of Rs. 115 levels, with Rs.73
stop loss on closing basis.
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