MIdcap in correction giving breakout of falling wedge.

23 Eki 2017

Midcap greavescotton after making lifetime high in feb-march 2017 of 178 has been in correction since 7-8 months.On mahurat trading day pattern looks like breakout of falling wedge.Again this bounce has come from 200WEMA which makes its credible.MACD on weekly charts is oversold so this can be best opportunity for entering this script.Last 3 years strong support comes around 115-120.So this stock can be bought with stoploss of close below 115 with tgt of 160 in short term & can be hold for long term also from decent gain.