Generic Construction Ready for Breakout for 10-15% move


We covered this stock on 10 July  13 July  23 July  06 Sep  07 Jan  14 Jan 18 Feb   04 March  08 April  15 April and 01 May Stock continue to trade at Life highs with the debacle on Mid and Small Caps stocks we have seen in last few months.

There were some good announcement by BSE Exchange , As we always say Price knows well in advance and we were able to capitalize on the rally.

Into yesterday’s 7th Sept special session held by Bombay Stock Exchange BSE formed in 1875 and SEBI along with S&P Dow Jones have upgraded Generic Engg into:

GENERIC ENGINEERING & CONSTRUCTION ENTERS :

  • BSE INDUSTRIALS INDEX
  • BSE ALLCAP INDEX
  • BSE SMALLCAP INDEX
  • BSE MIDSMALLCAP INDEX

Please refer and find from the link

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20180907-32

 

Weekly/Daily Chart looks very bullish stock is holding to it long term trendline. Stock has been consolidating in 38 points range as seen in below chart.

Breakout can be seen above 339 for a move of 38/76 points move

Initial Target calculation 339+38 = 377

 

I have drawn the planetary line between Sun and Mercury as seen in below chart, Stock has been respecting these line and breakout can be seen above 336 for a move towards 377/400.

 

Remember the Golden Technical Rule Ride the Trend till it bends. Stock is Listed on BSE and Ticker is GENCON.

Fresh Long in Range 336-339 Target 343/377/400  SL should be kept at 310 on closing basis

The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis based on my Studies.Please also do your own study before trading this stock and trade in small quantity also be strict with Stoploss.Bramesh Bhandari and his family/associates/ analysts would have exposure in the securities mentioned in the above article.



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