HDFC Sec: Buy GIPCL (Gujarat Industrial Power Company Ltd) - technical pick

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Current Observation:
 The attached daily timeframe chart of GIPCL (Gujarat Industrial Power Company Ltd) is indicating a larger
consolidation pattern over the last couple of months.
 After few sessions minor consolidation, the stock price has moved up today and is now placed on the verge of staging
upside breakout of the consolidation around Rs.92.00 levels (green horizontal line). This is positive indication for the
underlying stock trend.
 The Bollinger bands have shifted into squeeze pattern and the bands are now started to widen afresh, which is
signaling the possibility of upside volatility breakout.
 Daily momentum oscillator like +DMI has widened suggesting emergence of strength of positive swing for near term.
 The overall chart pattern of GIPCL is indicating a possible upside breakout of the consolidation for short term, which
is suggesting a long trade set up for near term.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010130