GICRE breakout now ready for boom The trendline has broken after a long time
And the trendline in these shares has also been retested
If you want to enter now, you can do it
Target will get 192
192 to 208 is the choppy area
Crossing this would give another target of 244
Stop loss of 100 to 115 can be kept for long time
GICRE trade ideas
GICRE - Darvas Box Pattern - 25% ROIAll details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting charts.
Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only for educational purposes and not a trading recommendation
long position on GICRE Beautiful breakout of tringle paten volumes are also good so you can make entry above 185 with a SL of 155 and TG1 of 321 , TG2 of 282 and TG3 of 335 holding period would be 1-2 months. ENTER WITH PROPERRISK MANAGEMENT AND ACCORDING TO YOUR RISK APPETIATE BECAUSE MARKET IS LITLE BIT VOLITILITY
General Insurance India could be changing its trendGICI has been on a downtrend from past few quarters. Its seems that this trend could be reversing. Its last quarter results have been abysmal but yet the stock looks constant. It seems as if all the supply has exhausted and demand can take control if september quarter shows good results. The stock is outperforming the index and can continue to do so. RR looks reasonable with a low base. One can go long buy putting 25% now and wait for quarter results, if better than expected then can add another 25%.
Will GICRE break the ~5 yr bearish trendline and go long? In weekly timeframe (mostly month/day), GICRE framing the bearish trendline from 2018 - it's acting as resistance and got rejected at least 4 times.
Now, it's in triangle pattern with support line (all time low support line) with bearish resistance trendline
It can see resistance around 137-143 and if it sustain above then it can go long. Next 4-6 weeks will be key for this stock.
Note: This is only for educational purpose and not for recommendations at all.
GICRE stock is about to break the trend line.NSE:GICRE
Aim for 6-8%. It can be easily achievable in 1-3 days.
My belief is to choose high winning probability trade with a risk-reward ratio going from 1:1 to 1:2.
The reason for booking profit of only 6-8% is because the market direction is not sure at this point. So better to aim for 1:1 risk-reward and rotate your money in better opportunities.
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gicreThe company provides reinsurance across many key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit and financial and life insurance. As a sole reinsurer in the domestic reinsurance market, it provides reinsurance to the direct general insurance companies in the Indian market. It receives statutory cession of 5% on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. As it spreads its wings to emerge as an effective reinsurance solutions partner for the Afro-Asian region and has started leading the reinsurance programmes of several insurance companies in SAARC countries, South East Asia, Middle East and Africa. To offer its international clientele an easy accessibility, efficient service and tailor made reinsurance solutions; GIC has opened liaison/ representative/ branch / subsidiary offices in UK, Russia, UAE, Malaysia, South Africa and Brazil. GIC also has an offshore branch in GIFT City, Gujarat. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.