GMDCLTD is offering a low-risk entry on weekly triangle retest

broke out of a multi-week ascending triangle two weeks ago with a strong bullish candle, making the initial entry relatively high risk. However, the stock retested the neckline last week, confirming it as a strong support and offering a lower-risk entry, backed by a bullish reversal on the weekly chart.

The stock is also displaying strong relative strength against and , of which the stock is part of, reinforcing the bullish outlook.

On momentum, the weekly RSI (14) stands at 65.73, indicating sustained strength with room for further upside. The RSI holding above 60 suggests a shift into a bullish regime, with a potential move above 70 likely to accelerate momentum and open the path toward new highs.

From a trend perspective, the 20-week EMA is trending upward and acting as dynamic support. Also on the weekly timeframe, the 20-week EMA has stayed above the 50-week EMA since June 2025, highlighting a strong short-term structure even during the broader market weakness during the US-Iran war tensions. On the monthly timeframe, the stock has consistently held above the 50 EMA since March 2025, delivering ~190% upside, while the rising 200-week EMA further confirms a multi-timeframe bullish structure.

If GMDCLTD sustains above ₹640, it could drive the stock toward the ₹890 zone. A minor pullback toward ₹715–720 may offer a more favorable risk-reward entry, with a stop loss at ₹620 and a projected upside target near ₹920 based on the ascending triangle breakout.

Key Supports: ₹720, ₹680, ₹650
Targets: ₹805, ₹870, ₹920

Disclaimer:
Investments in the securities market are subject to market risks, read all related documents carefully before investing. Securities quoted here are exemplary, not recommendatory. I am not a SEBI registered financial advisor, please consult your financial advisor before investing. Please note that I do not guarantee any assured returns for the securities quoted here.

Hari Narayan N
Chartered Market Technician (CMT – All 3 Levels Cleared)

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Stoploss triggered due to broader market uncertainty.

nharinarayan14

Chartered Market Technician (All 03 levels cleared)

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nharinarayan14

Chartered Market Technician (All 03 levels cleared)