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The stock is approaching support at 168
rupee, which may give a positive reaction.
However, a break downwards through 168
rupee will be a negative signal. Volume
tops and volume bottoms correspond well
with tops and bottoms in the price. Volume
balance is also positive, which strengthens
the stock. The short term momentum of
the stock is strongly positive, with RSI
above 70. This indicates increasing
optimism among investors and further
price increase for Gujarat State Fertilizers &
Chemicals Limited. However, particularly
for big stocks, high RSI may be a sign that
the stock is overbought and that there is a
chance of a reaction downwards. The
stock is overall assessed as technically
positive for the medium long term.
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