GPIL
Respect deeply @phreakv6 understanding of stocks.
Was just studying GPIL – saw your 6 months old chart here. Hence sharing my views for your reveiw.(thanks in advance)
Our view is that GPIL can go to much lower levels from here.
It seems to be doing a Zig Zag correction. Wave A was clear 5 waves down and recent bear-market -rally bounceback was not even 38% at Fibo levels ( a sign of weakness).Another sign of weakness is that it could not close above 40 weeks moving average.
Seems that it should go to near 220 in coming weeks that is where A ended and it also coincides with lower BB line.
Little further it can go 210 that is 40 months moving average . BB and moving averages are moving targets as they keep going up and down alongwith the price movement.
If it does not stop there then it can go to 2018 high – where A=C .
Overall it does not any confidence.Look forward to your views.
Disclaimer :These are probability studies, can go wrong.
| Subscribe To Our Free Newsletter |
