Verdict: Bullish (Weekly Chart View)
A clean long-term trendline bounce with confluence at 200-week EMA presents a high-probability swing or positional trade setup.
Plan of Action:
BUY: ₹183.78
Stoploss: ₹165
Target 1: ₹256
Target 2: ₹317
Trailing SL: After ₹220, start trailing to lock profits
GUJSTATFERT is showing signs of a strong rebound from a multi-year ascending trendline support on the weekly chart. Price action around the 200-week EMA and long-term trendline support indicates a potential fresh leg to the upside.
Key Observations:
Trendline Support: Stock has respected a rising trendline since 2020 and is currently rebounding after retesting it
EMA Alignment: Price holding just above the 200-week EMA – bullish long-term signal
Risk-Reward Setup: Entry near support offers favorable upside with defined risk
Support & Resistance Levels:
Immediate Support: ₹165
Entry: ₹183.78
Stoploss: ₹165
Target 1: ₹256
Target 2: ₹317
Major Resistance: ₹322
Indicators & Risk-Reward:
✅ RSI: Hovering around 45 – room for upward momentum
✅ Volume: Picking up near support zone, indicating accumulation
✅ Risk-to-Reward: ~1:4 – excellent long-term setup
Verdict: Bullish (Weekly Chart View)
A clean long-term trendline bounce with confluence at 200-week EMA presents a high-probability swing or positional trade setup.
Plan of Action:
BUY: ₹183.78
Stoploss: ₹165
Target 1: ₹256
Target 2: ₹317
Trailing SL: After ₹220, start trailing to lock profits
*****Disclaimer:*****
The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.
Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.
The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.
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