1) There is a Symmetrical Triangle Formation made on the weekly chart of Gujarat Industries Power Co. LTD. 2) It has taken support at 200-day Moving average 3) Fundamentally: A) FII has increased stake in the last 2 years and Promotors Holding has been very stable at 55.69% B) Stock is trading at 0.42 times its book value
Target: 1) 105 (Risk to Reward Ratio 1:1) 2) 145 (Risk to Reward Ratio 1:3) Stop Loss: 65 NSE:GIPCL