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#TOP SHARE TODAY

22 Aug 202401:52

Summary

TLDRWelcome to Top Seller Today, where we discuss Gujarat State Fertilizers and Chemicals Limited stock, which is experiencing rapid movement on day 3. The stock is currently trading at level 8. We analyze the chart pattern, identifying a strong support level at 2216, where the stock has bounced back after several retests. A resistance range is noted at 2268, where the stock is not breaking out and is trading within a range. For those interested in taking a position, a stop loss at ₹1 is suggested with a target of around 267. If the stock breaks below 2260, it could drop around ₹10, as it has tested this bottom twice before. For fresh buyers, sell after 266 once the stock breaks out of the range, as significant momentum may follow. Like, subscribe, and stay tuned for more insights.

Takeaways

📈 The stock of Gujarat State Fertilizers and Chemicals Limited is experiencing rapid movement on day 3.
💹 The current trading level of the stock is around 8, with potential future targets discussed in the video.
📊 The stock has shown a strong support level at 2216, where it has repeatedly tested the price and bounced back from lower levels.
🔄 There is a resistance range at 2268, which the stock has not been able to break above, indicating a trading range.
🚫 For those looking to take a position in this stock, an important stop loss should be set at ₹1 to manage risk.
🎯 The upper target for holding the stock is around 267, with the expectation that the stock will continue to hold this level.
⚠️ Be cautious if the stock breaks down below 2260, as it could indicate a further drop of around ₹10.
📉 The stock has previously tested the bottom twice, suggesting a pattern that could be repeated.
🛍️ For those interested in a fresh purchase, consider buying after the stock breaks the range at 266, as this could lead to a significant surge.
👍 The video encourages viewers to like, subscribe, and engage with the channel if they find the content useful.

Q & A

What is the topic of discussion in the video?
-The video discusses the stock performance of Gujarat State Fertilizers and Chemicals Limited.
What is the current trading situation of the stock mentioned in the video?
-The stock is currently trading at level 8 and has seen an increase in momentum on day 3.
What is the identified support level for the stock in the video?
-The identified support level for the stock is around 2216, where it has shown resistance multiple times.
What is the resistance range mentioned for the stock?
-The resistance range mentioned for the stock is at 2268, where it has not been able to break out.
What is the suggested stop loss for trading this stock?
-The suggested stop loss for trading this stock is ₹1, which is considered important for the trade.
What is the target for holding the stock if one is considering a long position?
-The target for holding the stock in a long position is around ₹267.
What is the potential downside if the stock breaks down below 2260?
-If the stock breaks down below 2260, it could potentially drop around ₹10, as it has tested this bottom twice before.
What is the advice for a fresh buyer in the stock?
-For a fresh buyer, the advice is to buy the stock after it breaks out of the range of 266.
What could be expected after the stock breaks out of its range?
-After the stock breaks out of its range, there could be a significant increase in momentum.
What action is encouraged at the end of the video for those who found it helpful?
-The viewers are encouraged to like, subscribe, and follow the channel if they found the video helpful.

Outlines

00:00

📈 Stock Discussion on Gujarat State Fertilizers & Chemicals Limited

The paragraph discusses the stock performance of Gujarat State Fertilizers & Chemicals Limited, which is currently trading at a level of 8 and has seen a surge in activity. The presenter analyzes the stock's chart pattern, highlighting a strong support level around 2216, where the stock has bounced back after several retests. A resistance range is identified at 2268, and the stock is expected to trade within this range. For those interested in taking a position, a stop-loss trade is recommended at ₹1, with a target to hold the stock around 267. It's cautioned that if the stock breaks down below 2260, it could potentially drop to around ₹10, as this bottom level has been tested twice before. For fresh buyers, the advice is to enter after the stock breaks out of the 266 range, as this could indicate a significant upward movement. The presenter encourages viewers to like and subscribe if they find the video helpful.

Mindmap

Keywords

💡Stock

In the context of the video, 'stock' refers to a share in the ownership of a company. The script discusses a specific stock, Gujarat State Fertilizers and Chemicals Limited, and its trading behavior. The term is central to the video's theme of stock trading and analysis.

💡Trading

Trading in this script pertains to the buying and selling of stocks. The video discusses the current trading level of the stock and provides insights on when to trade, emphasizing the importance of trading strategies in stock market investments.

💡Support Level

A 'support level' in stock trading is a price at which a stock is expected to find support and potentially bounce back. In the script, it is mentioned that the stock has a strong support level around 2216, indicating a price where the stock has repeatedly found buying interest.

💡Resistance Level

The 'resistance level' is a price at which a stock is expected to meet selling pressure and potentially reverse direction. The script identifies 2268 as a point of resistance for the stock, where it has struggled to move higher.

💡Breakout

A 'breakout' occurs when the price of a stock moves above a resistance level, indicating a potential trend reversal or continuation. The video mentions that the stock is not breaking out above the resistance level, suggesting a continuation of the current trading pattern.

💡Range Bound

When a stock is described as 'range bound,' it means the stock's price is moving within a specific price range without significant breakouts. The script indicates that the stock is trading within a range, suggesting a period of consolidation.

💡Stop Loss

A 'stop loss' is an order placed with a broker to sell a security when it reaches a certain price. It is a tool used to limit an investor's loss on a position. The video emphasizes setting a stop loss of ₹1 to manage risk in the stock trade.

💡Target

In the context of stock trading, a 'target' is the price at which an investor expects a stock to reach. The video script discusses a target price of around 267 for the stock, indicating the expected profit level for investors.

💡Price Breakdown

A 'price breakdown' happens when a stock's price falls below a significant support level. The script warns that if the stock breaks down below 2260, it could experience a significant drop, illustrating the importance of monitoring support levels.

💡Bounce Back

A 'bounce back' in stock trading refers to a situation where the price of a stock rebounds after hitting a support level. The script mentions the stock has seen a bounce back after testing the support level multiple times.

💡Fresh Buyer

A 'fresh buyer' is an investor who is entering a new position in a stock. The video suggests that fresh buyers should consider buying the stock after it has moved past 266, indicating a potential entry point for new investors.

Highlights

Welcome to the channel Top Seer Today, discussing the rapid movement of Gujarat State Fertilizers and Chemicals Limited stock on day 3.

The stock is currently trading at level 8 and observing a quick movement.

Discussion on the future targets for the stock and where to set stop loss for trading.

Chart pattern analysis reveals a strong support level around 2216, where the stock has repeatedly tested and bounced back.

A resistance range is identified at 2268, where the stock is not breaking out and is trading within a range.

For those looking to take a position in this stock, a stop loss of ₹1 is recommended.

The upper target for holding the stock is around 267.

Special attention is given to the possibility of a price break below 2260, which could indicate a further drop of around ₹10.

The stock has tested the bottom twice before, suggesting a potential pattern.

For fresh buyers, it is advised to sell the stock after it breaks the range at 266.

A breakout from the range could lead to a significant acceleration within the stock.

Encouragement to like and subscribe to the channel for more such informative videos.