GMDC Ltd. CMP— Rs 145.30
We recommend going long in this counter at current levels.
Technical Outlook:-
The share price of GMDC has registered a breakout from its resistance levels of Rs 145. The overall technical setup remains positive.
We believe that the share price could enjoy good upside momentum in the short term and test levels of Rs 151- Rs 153. The stock is also sustaining above its near term and short term moving average clusters which is also a sign of strength in the counter. The momentum indicators of the stock are also in buy mode.
Suggested Trading Strategy:-
We recommend traders to buy 50% now and again in the range of Rs 143 – Rs 144 levels with a stop loss placed below Rs 141.40 levels for targets of Rs 150 – Rs 155 levels, expected to be achieved over the coming 3-4 sessions.
