GSPL Daily NSE Stock Chart Technical Analysis:
GSPL is at an all time high since it listed in 2006. The price broke through its previous high in mid-August 2010 and has remained up.
The CMP on 5 Nov 2010 is Rs 119.1.
Market Outlook: The price will remain sideways with possibility of minor fall on Monday market opening, as the price rise seems exhausted when Mahurat trading ended on 5th Nov '10. When the price touches the line of support, one can buy and go long (buy n hold).
Technical Indicators:
Price is at an all time high in the 5 years of it being listed on NSE.
The previous high is now acting as line of resistance, as is visible where the triangle forms.
There are two lines rising which are acting as support and resistance. These lines merge in mid-2011, which could be a decisive time for the price.
News:
GSPC Gas, a subsidiary of GSPL, already has the largest distribution network of gas in urban India.
GSPL has bid for 3 pipelines - Malavaram-Bhilwara, Mehsana-Bhatinda, and Bhatinda-Nangal pipeline. If it wins any of these contracts, the price is going to zoom. (Source: HDFC research paper)
Chart Source: www.moneycontrol.com
GSPL Daily NSE Stock Chart Technical Analysis
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