Trade –

Breakout (Entry) : 481 or CMP for an SIP
Stop : Below 449
TGT 1 : 540
TGT 2 : 600

GHCL (Gujarat Heavy Chemicals Limited) registered a new all time high as it finally gave a price volume breakout after remaining stuck in a range/consolidation from last few weeks. This move is not really a surprise rather a very late one as the company had announced the de-merger of its Inorganic chemicals and textile business in March of 2020 which would lead to value unlocking in both the segments. The stock offered entry at lower levels/support quite repeatedly before bouncing back, this clearly suggested a base formation as the price was unable to penetrate lower than the support even in deep corrections. Currently almost all the stocks having Gujarat in the name are firing again with GNFC being a role model whose steps are likely to be followed by others making GHCL a buy at every dip.

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