GallantGallant breaking out from range, mkng a new high, next targets marked with horizontal rays. Not to b missed! 💫🤝
GALLANTT trade ideas
Gallantt Ispat looking to gallop ahead. Gallant Ispat Ltd. engages in the manufacture of steel and steel products. It operates through the following segments: Agro, Iron and Steel, Power, and Real Estate.
Gallantt Ispat Ltd. CMP is 352.55. The positive aspects of the company are Company with Low Debt, Growth in Quarterly Net Profit with increasing Profit Margin (YoY). The Negative aspects of the company are High Valuation (P.E. = 26.7), High promoter stock pledges and Increasing Trend in Non-Core Income.
Entry can be taken after closing above 356 Targets in the stock will be 366 and 377. The long-term target in the stock will be 390 and 400. Stop loss in the stock should be maintained at Closing below 334 or 297 depending upon your risk taking ability.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
GALLANT18.02.24
Watchlist candidate
Rationale:
-->> Sector looking strong and stock outperforming index
-->> Young Stage 2 stock
-->> Lockout rallies indicating urgency
-->> Base1 bottom to Base 2 top --->>160% rally
-->> Stock respecting 50 DMA showing linear progression (less complications)
GALLANTT on a daily timeframeGALLANTT on a daily timeframe
Bull flag pattern
Wait for breakout
Entry @ 203
Sl @ 180
Pole and flag Pattern breakoutGood momentum is expected from here. It's clean and breakout with a Volume spurt. You can enter the trade tomorrow and expect at least a 30 - 40% return within a few days.
Please do your own analysis before entering the trade. These are just my views please follow strict stop loss and target.
Thanks
Darshan
GALLANTT ISPAT LTD SWING TRADE IDEAGALLANTT ISPAT LTD gave symmetrical triangle chart pattern breakout after retest with strong bullish candle and gud volume bar on weekly time frame also gave weekly resistance zone breakout with gud volume at daily time frame. looking promising for swing trade maintain proper RR before engaging in position.
Technical Analysis of Gallantt Ispat Ltd. (GALLANTT) A Potential Bullish Reversal in the Making
Gallantt Ispat Ltd. (GALLANTT) is an Indian steel manufacturing company that has been listed on the National Stock Exchange of India (NSE) since 1995. The company produces a wide range of steel products, including hot-rolled coils, cold-rolled coils, galvanized coils, and color-coated coils.
Recent Price Action
The price of GALLANTT has been on a downtrend since September 2022, when it reached a high of INR 170.00. The stock has since fallen to a low of INR 85.30 in July 2023. However, the price has recently started to recover, and it is currently trading at around INR 92.25.
Technical Analysis
The recent price action of GALLANTT suggests that a bullish reversal may be in the making. The stock has formed a double bottom pattern, which is a bullish reversal pattern. The double bottom pattern is formed when the price of a security makes two consecutive lows at around the same price level, and then rallies back up.
The price of GALLANTT has also recently broken out of a descending trendline, which is another bullish signal. A descending trendline is a line that connects a series of lower highs. When the price of a security breaks out of a descending trendline, it suggests that the downtrend may be over.
Fibonacci Retracement
The Fibonacci retracement tool can be used to identify potential support and resistance levels. The Fibonacci retracement tool is based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding numbers.
The Fibonacci retracement tool can be used to draw horizontal lines at the 23.6%, 38.2%, 50%, 61.8%, and 78.6% levels of a price swing. These levels are often used as support and resistance levels.
In the case of GALLANTT, the price has recently retraced to the 38.2% Fibonacci retracement level of the recent downtrend. This suggests that the 38.2% level may act as support.
Conclusion
The technical analysis of GALLANTT suggests that a bullish reversal may be in the making. The stock has formed a double bottom pattern and has recently broken out of a descending trendline. The price has also recently retraced to the 38.2% Fibonacci retracement level of the recent downtrend.
However, it is important to note that technical analysis is not a foolproof method of predicting future price movements. It is always important to do your own research and to consider other factors, such as the company's fundamentals, before making any investment decisions.
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.
gallant ispatit entered into an agreement with East Coast Railway to buy and own Rail Wagons to get rid of wagons shortfall with Indian Railways
Trendline BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Gallant Ispat 1 Day TIme Frame AnalysisRecent breakout with volumes is observed in the gallant ispat keep a track of it.
GALLANTNSE:GALLANTT
Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House.
All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
GALLANTNSE:GALLANTT
Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House.
All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
GALLANTT NSE PENDING BREAKOUT ABOVE 88GALLANTT NSE PENDING BREAKOUT ABOVE 88
88 is resistance for GALLANTT. Above 88 it will make new 52 week high and all-time high. A decisive close above 88 is needed.....
NSE:GALLANTT
Gallant Metals - MonthlyThe stock has given a clean Cup and Handle Break out on the Monthly charts suggesting that more strength is to be probably be seen in the coming months. Again since this a monthly chart, it can take some time to move.
