Why?
GMM Pfaudler Ltd
ABOUT
GMM Pfaudler manufactures corrosion resistant glass-lined equipments . It is a leading supplier of process equipments to the pharmaceutical and chemical industries . Over the years GMMP has diversified its product portfolio to include Mixing Systems, Filtration & Drying Equipment, Engineered Systems and Heavy Engineering...
Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels...
The chart has formed a bullish flag and pennant pattern. Presently it has given a good breakout after 4 months of consolidation with volume. Position can be taken at cmp or for safe entry on breakout from upper trendline.
Bollinger band squeeze in daily and weekly timeframe as well.
As per my analysis, when NSE:GMMPFAUDLR give breakout and close any 45min candle above level of 1490. It could be best buying opportunity with stop loss of 1400 (-90 Points risk). My expected upside target would be 1655 (+165 Points) & 1825 (+335 Points).
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Small trade opportunity in GMMPFAUDLR. As the market is highly volatile. Make sure to have the correct stop loss as the trade might get reversed immediately.
Target 1: 2000
Target 2: 2200
Stoploss: 1500
Happy Trading!
Potential swing trade as chart made a bullish tweezer bottom pattern, Very short term players can buy with a SL of 4150 on closing basis and aim for 5-7% target.
Positional players can also initiate longs and keep a stop loss below support range. All the best.
As it is triangle we should wait for the correct time to enter i.e., after the Break-Out.
I think it would take some time in the present market conditions but wait until the Volumes accumulate.
The Stop Loss (>3960) is good and Target is >20%.
Disclaimer: I am not a SEBI Registered Research Analyst and all these analysis are based upon own study and experience. Reader should take a note that, they should consider their goals and financial planners for taking any decision and consider this study as just a reference for research. I keep altering my positions so I may or may not be invested in my suggested...
GMM PFAUDLER:
1) Waiting for 3 Price action breakout around same price.
-Triangle Formation / C&H & Trend Line
2) Harmonics Pattern is in place
3) All Oscillators are showing sign of regaining strength now.
Buy some now and pyramiding above 5.2K for Tgts 6.5K & 7K. #MK
