GUJARAT NRE COKE Daily NSE Stock Chart Technical Analysis:
Gujarat NRE Coke stock price went up today, but continued sideways. It has remained sideways since mid-May after it fell through its line of resistance.
Price closed at Rs. 63.95.
Market Outlook: The price is expected remain around today's close. Tomorrow EOD should close between Rs 64 and Rs. 65.5.
Technical Indicators:
We can see long term lines of support and resistance on the chart.
Support is available at Rs 54.
The strong resistance lies at Rs. 71. If this resistance is broken it will be a very good opportunity to go long.
Head and shoulders pattern has formed recently. If the price falls and fails to cross 69, there might be a downfall in the price again.
News:
Gujarat NRE Coke has declared ambitious plans to invest in Australian mines and increase production over the next 5 years. But this is not expected to have any immediate effect on the stock
Let's see if the quarterly results will do any magic soon.
(Analyzed on request by KP, Mumbai)
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