Wednesday, 11 November 2009

Great Eastern Shipping (Rs 247.7): Sell

We recommend a sell in the stock of Great Eastern Shipping Company from a short-term horizon. From March low of Rs 142, the stock had continued to be in an intermediate-term uptrend till October high of Rs 310. After encountering significant long-term resistance around Rs 310, the stock changed direction by resuming its long-term downtrend. The stock has been trending downwards since January 2008 high of Rs 572. In late October, the stock conclusively penetrated its intermediate-term up trendline as well as 50-day moving average. It is trading well below its 21- and 50 day moving averages. The daily relative strength index (RSI) has re-entered the bearish zone and weekly RSI is slipping towards this zone in the neutral region. We are bearish on the stock from a short-term perspective. We expect it to decline until it hits our price target of Rs 222. Traders with short-term horizon can sell the stock while maintaining stop-loss a stop-loss at Rs 261.

Source: thehindubusinessline


  1. visit :

  2. Really Nice Blog and Very Good predictions and Free Intraday Stock Tips.
    I liked your blog Stocks to buy and I would recommend it to my friends who do trading.

  3. This is a really good read for me, Must admit that you are one of the best bloggers I ever saw.Thanks for posting this informative article.

    money solutions

  4. Option Trading Tips

    you have mentioned very useful and profitable message message for us
    Day Trading Tips India

  5. Due to profit taking session Today Stock Market closed negative.Experts said Bull will continue in market, according to market outlook the budget was not negative.

  6. Nifty Closed above 7750 above crucial psychological level Commodity tips today

  7. Hi, Nice site I enjoyed reading it. Thanks for sharing. Would it be possible if I contact you through your email? Please email me back. Thanks!

    Aaron Grey
    aarongrey112 at

  8. Thanks For The post… It contains a lot of great info.. I hit submit to early…I like articles that give real value ... Equity Tips

  9. I got to learn very useful updates from trading point of view with the help of these posts. Sample calls shared by various service providers like epic research are helpful to earn rich returns.


DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.