Can I enter Genus Power at the current levels although market is sliding? - Shashank Shekhar
BUY GENUS POWER ABOVE RS 57
Genus Power is currently trading at Rs 53.30. Its 52-week high/low stand at Rs 58.70/32.70 made on August 29, 2017 and November 22, 2016, respectively. Considering the weekly time frame, the stock has formed kind of inverse head & shoulders pattern, though on the upside. The stock has attempted a breakout near to Rs 53.50 level, but it could not sustain on a closing basis. Recently, the stock has witnessed rise in volumes and the 14-period RSI is also quoting at 60, which suggests momentum going forward. Hence, we suggest you to buy the stock but above the level of Rs 57 on a closing basis for confirmation of upside.