Gabriel India is an auto ancillary company which has a dominant position in auto ancillaries space especially in shock absorbers. Cmp 136 . Auto and auto ancillary companies have been on a strong run and this looks like a sectoral move going on. Putting up chart of Gabriel India. It is a monthly GMMA chart with possibility of a cup and handle pattern breakout above 150. If it does indeed cross 150 and pattern plays out to perfection, target can be around 220 in the medium term. Note that this is monthly chart and results have to be expected in months. On GMMA monthly charts, the short term moving avgs in red have compresssed and broken out on the upside and all this while support has been taken from long term moving avgs in blue . This kind of pattern often provides early entry if taken with appropriate study and stop losses. disc: bought as a techno funda sectoral bet.
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