GMM Pfaudler Ltd. has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The stock has broken a rectangle formation. A decisive break of the resistance at 1549 will signal a further rise to 1648 or more. The stock has support at rupee 1500 and resistance at rupee 1650.
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Positive
volume balance shows that volume is higher
on days with rising prices than days with
falling prices. This indicates increasing
optimism among investors. The RSI curve
shows a rising trend, which could be an early
signal of the start of a rising trend for the
price as well. The stock is overall assessed as
technically positive for the medium long term.
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