Gujarat Mineral Development Corporation Limited. | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK : Gujarat Mineral Development Corporation Limited. 

CMP :- 185.35 (24/07/2023)

ABOUT :GMDC) is a government-owned company in the state of Gujarat, India. Established in 1963, GMDC is engaged in the exploration, mining, and processing of minerals and mineral-based products. The company primarily focuses on minerals like lignite, bauxite, flourspar, manganese, and other valuable minerals found in the state of Gujarat.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (DAILY TIME FRAME )

(click on above image for candle stick chart view)

OBSERVATION :

The stock has been consolidating in a form of RECTANGLE PATTERN on a daily time frame. Once the stock gets breakout of its Resistance zone & Trading above 186/187 levels further we may see good upside momentum. Expecting the stock to show 15-20% upside rally coming days/weeks. 

Add this stock to your watchlist to understand further price action.

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

OPEN A FREE DEMAT ACCOUNT

Invest Right, Invest Now

Follow me on Instagram : @priceactiontrader13 for daily updates related to blog.