Technical Outlook & Trading Strategy:-
The price of Guarseed has been trading in a rising channel since 10th Aug, 2011. Corrections from higher levels have been taking support at the moving average clusters.
The momentum indicators continue to trade in bullish mode. A break above the Rs 4743 levels will infuse fresh upside momentum into the counter.
We recommend traders to take long positions on a break above Rs 4743 levels with a stop loss placed below Rs 4673 levels for immediate upside targets of Rs 4830 / Rs 4860 levels.
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