Tag: Stock of the Day

Stock of the Day – GMDC

Gujarat Mineral Development Corporation is the latest stock that seems to be trying to ride the Modi wave. The stock which for a long time was a pretty good market performer took a serious plunge in 2013 with the stock falling by 65% in a matter of months. The stock has since slowly crept higher and today made a fresh breakout from its recent range.

While the stock continues to remain weak on the longer time frame, the breakout coming in at the 200 EMA level does provide for a low risk entry with the initial target being at the very least 24% above the current price. 

A weekly close below the 200 day EMA would on the other hand communicate the failure of the breakout and would be a good stop loss to consider.

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Stock of the Day – InfoEdge

After consolidating for 2 years (2011 and 2012), the stock broke out of the range in mid 2013. The stock appreciated by 34% in the year just gone by and in just under two months of 2014 has appreciated a further 31%. Today, the stock is once again on the verge of another breakout from a Cup pattern formation. Despite the appreciation that we have seen in the last 8 – 9 months, the pattern breakout suggests a target of 825 which is 36% above the current closing price.

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