tarangmht

GNFC : Bullish Break Inverted Head & Shoulders

Long
NSE:GNFC   GUJARAT NARMADA VA
We have a clear breakout with good volumes on the weekly chart for GNFC. We can see a trend reversal pattern of Inverted Head and Shoulders on the chart. GNFC brokeout of H&S pattern during the last week of Feb. We can clearly that volumes kept increasing as the pattern developed and finally brokeout of the neckline. GNFC consolidated after the initial breakout for the entire month of march and april and now has given out a fresh weekly breakout. I expect GNFC to continue its upward trend and reach its all time high in next few months, It will likly get additional support from sector tailwinds as agrochemical stocks arecurrently in uptrend. Take an exit only if GNFC closes below 300 on weekly basis.

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