Technical Outlook & Trading Strategy:-
After correcting from the highs of Rs 4564 levels, the price of Guarseed was trading in a broad range of Rs 4350—Rs 4270 levels over the past few sessions of trade.
Also, the price action of Guarseed within this broad range took the shape of a bullish double bottom pattern and a breakout was registered during the previous session on the back of robust volume.
We expect the upward momentum to continue for the upcoming few sessions of trade and thus recommend traders to buy between Rs 4365--Rs 4380 levels with a stoploss placed below Rs 4319 levels for upside targets of Rs 4440 / Rs 4475 levels, expected to be achieved over the upcoming 2-3 sessions of trade.
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