Gokaldas Exports, after an impressive rally, went into the consolidation. The price gave an upward breakout to the consolidation on a daily chart on 3rd June 2021 and closed at Rs.148.65. The breakout is supported by increased volume. I anticipate the price target of Rs.189 and expected time frame for attainment of the price target is 11-15 daily candles. I suggest the stop loss at Rs.141. The expected risk-reward ratio is 1:5. The stop loss should be followed for the first 4 daily candles starting from 4th June 2021. Thereafter, the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price movement. Investment based on this idea, if any, shall be at the sole risk of the investor.
NOTE: This idea is an attempt to predict the future price movement. Investment based on this idea, if any, shall be at the sole risk of the investor.