Greaves Cotton: Comes Across As a Re-Accumulation Candidate

The stock has been stuck in a trading range for almost 3-years now. The volume signature within this trading range indicates that major accumulation is underway in this stock. The price action in the past few weeks has been very constructive with volumes picking up along with momentum to the upside.

I am watching this stock with interest and would buy it either on a breakout above 140 (intra-day or 2-5 day trading horizon) or above 146.5 (for positional trades).

Commentaire:

Here is a different look at the daily chart of the stock. I have incorporated Andrews Pitchfork and it seems to be working like a charm. in.tradingview.com/chart/cz5OIjr8/