Gabriel India - investment ideaStock made a high of 211 in 2017, followed by a 3 year correction and made a low to 50 Rs in April 2020.
Since then it is consistently making higher lows. Stock pattern is still intact regardless of ongoing correction in market. It recently gave a breakout from double bottom pattern and crossed the last resistance of 126. RSI bullish divergence is also visible on weekly chart.
Stock has also started outperforming Nifty on weekly chart. All parameters give this stock an absolute momentum and relative momentum, and makes an excellent portfolio stock.
Trend is intact until 107 on weekly closing basis.
Don’t wait for targets in this stock, my suggestion would be to buy and hold considering 3-12 months time frame, and exit when either the lower lows pattern breaks or a weekly closing comes below 107.. You can expect 152, 175, 201 and new high (220-225) as potential targets.
