Genus Power Research Reports By Equinomics & IIFL

Genus Power has been stuck in a long drawn consolidation phase since late 2010. During this period, the stock witnessed a very neat rounding bottom formation. The stock, which fell by a whopping 70% from 2010 to 2012 managed to make a smart comeback since then retracing over 100% of its decline. However the stock was unable to carry forward the momentum and slipped to lows of Rs. 21 in June 2015 only to see another phase of smart accumulation. Finally, after a wild journey, Genus Power has broken out from a classic “Inverted Head and Shoulder” pattern. The stock breached the neckline of the pattern in the previous week, which was placed at Rs. 42 confirming the out‐burst. What’s more compelling is that the bullish pattern and the base building, both have taken place around its all time low favoring the risk‐reward ratio.

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