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Buying demand has recently emerged after forming a triple bottom around the key support area ₹ 1150-1200 that is also confluence of the 200 week’s EMA signalling strength
Structurally, the stock has already taken 33 weeks to retrace just 90% of its preceding 11 week’s rally (₹ 1107-1933). A shallow retracement signals a robust price structure and a higher base formation
We expect the stock to extend the current up move and head towards ₹ 1530 in the coming months as it is the 50% retracement of the entire breather (1933-1128)
Follow up summary of Gladiator Stocks
| Date | Product | Scrip Name | Market | Strategy | RP | Target | Stoploss | Time Frame |
|---|---|---|---|---|---|---|---|---|
| 11-Apr-2023 | Momentum Pick | ONGC | Cash | Buy | 158 | 171 | 148 | 30 Days |
| 02-May-2023 | Momentum Pick | SAIL | Cash | Buy | 84.5 | 93 | 79 | 30 Days |
| 03-May-2023 | Momentum Pick | Mahindra CIE | Cash | Buy | 410 | 445 | 390 | 14 Days |
| 04-May-2023 | Momentum Pick | Graphite | Cash | Buy | 320 | 348 | 298 | 14 Days |
Trading portfolio allocation
For example: The ‘Momentum Picks’ product carries 2 intraday recommendations. It is advisable to allocate equal amount to each recommendation
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