D-Street Trader

After recent Head & Shoulder breakout, the stock did the target of 3260 before it began retracing. In coming weeks, the stock may correct to retest the neckline region around 2750-2800. Investors with 12-14 months point of view can use the current dip and add on further dip to 2800 levels to enter the stock. Targets can be in the region on 3600-3800. 

GPPL had a big move from about INR 40 all the way to INR 260 from early 2013 to April 2015.  Post this big up move it gave a zig zag corrective move to the levels of INR 120-125. This also marks 61.8% retracement of the up move as seen in the chart below. The stock has managed to hold this level and post some consolidation it has given a break out of the falling trend line. The trend appears to be changing and one can consider buying this stock for levels of 180, 210 and 260 in the next 6-9 months. Stops come around the level of Rs. 125. Below is the chart for the same.