GREAVESCOT trade ideas
Bullish on greavescottonSeems like it's taking a bounce from the dynamic support zone.. previously it respected the support line 3 times...and the rsi seems to be rising too...in Heiken ashi...it clearly shows a buy signal...and the stock is approaching to all time high...so there is a chance there might be a breakout to the upward direction breaking the dynamic resistance...even within the resistance region 9+% can be booked... So it seems like a good buy right now...
It's not a stock recommendation...kindly do your own analysis
GREAVES COTTON :: BULLISHDATE: 19 MAY 2021
INSTRUMENT: GREAVES COTTON
TREND: BUY
TIME FRAME: day
CMP: 135.45
BUY ABOVE: 138.50
STOP LOSS: 130
TGT 01: 150
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.
available at cheap valuations , buyGreaves Cotton Limited commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of many years impacting a million lives every day. Greaves is a market leader in fuel-agnostic powertrain solutions and manufactures Cleantech powertrains for CNG, Petrol, and Diesel segments.
Greaves Cotton acquired Ampere in 2018 and now holds an 81.2% stake. Through its subsidiary Ampere, Greaves has signed an MOU with Tamil Nadu Government to set up an e-mobility manufacturing facility at Ranipet, with a proposed investment plan of Rs. 700 cr to build capacityof producing one million e-2Ws in a phased manner over a period of 10 years. The plant is expected to be operational in FY2021 with an initial installed capacity of 100000 units of e-2Ws.
The company is well positioned to benefit from the government’s push towards fast adoption of electric vehicles (EVs). Besides, incentives under FAME-II (Faster Adoption and Manufacturing of EVs) scheme, and the government’s ‘Go Electric’ media campaign to spread awareness of the benefits of e-mobility and EV charging infrastructure. Further, the FAME-II scheme is focussed on E-2Ws and E-3Ws, with 52% subsidies provided under the scheme that will benefit Greaves Cotton.
Greaves Cotton Pattern Shows ConsolidationBullish Pennant Pattern formation on Greaves cotton Daily chart.
I am showing two levels of support and one Resistance level. I see two entry positions based on where the stock is heading in the near future.
Stock Heading Up: The resistance is the downward trend line. Check for strength (increased volume, good candle formations) if it breaks the trend line and then enter into long position with tight stop loss.
Stock Heading down from Today: Historically 110 has proven to be a good support for Greaves Cotton. When stock is trading at this price range, again wait for strength at this price level, test the support & then enter into a long position with tight stop loss.
Price Target 1: 139
Price target 2: 153
greaves cotton , buy 140, short target 160, long target 180,240stock has been in consolidation phase before corona period, due to corona it went down , now it is regaining its position . above 160 big move is expected. heavy volume is supporting the trend
Greaves Cotton - Will it this time crossoverGreavesCotton - Lots of promise but hardly delivers. took years to cross 90-105 range and it 105-135-150 was the range in which it remained for 5 years. COVID crash and several attempts to cross the 90+ barrier. Bullish only above 105 on monthly close.
DISC: Not a SEBI Registered. I post charts for my own study.
Greaves Cotton - Closing Above 91 Will Trigger Big Move.Greaves Cotton Currently Trading Near 88. 90-91 Zone is the Strong Resistance and Closing Above this level will Trigger a Big Move leads to first target of Rs. 125 and then Rs. 150. Stop Loss is 78 on Closing Basis
GREAVESCOTTON Buy For 80 83.2 86.6 91.5 97.75 115 TF 2 MonthsGREAVESCOTTON Buy For 80
83.2 86.6 91.5 97.75 115
144 (Aggressive Bull)
SL 59
In bearish gripGreaves Cotton is in complete bearish grip and out of the influence of chart. Any meaningful estimation can be done when it crosses 145.
