as we can see the long term chart of GTL we can see that stock has fallen from rs. 435 to 10 rs. level in last 2 years.
stock has made “POSITIVE CONVERGENCE” at bottom level and same was confirm at 14 level, after a long time chart shown some positive development for this stock.
after a 5 month of consolidation stock hitting 5 month high in recent session, which can hit some good development in stock.
recently stock moved above closest resistance but same was not able to confirm that time, and now it has cross that level again.
at the current level we can see rsi is just moved into a overbought zone now, so this can indicate either a fast up move or price can consolidate till the time rsi will clam again.
so with the basic study we can say that if GTL able to give close above 17.50 level then only one can enter into a positional buy with 11 rs. as sl target can be 27-35-50 and as further chart develop we can see some more moves also.
one can enterinto buy above 17.20 for intraday and if stock give close above 17.50 then hold delivery and for intraday one can keep sl at 15.50, remember it need positive close above 17.50 to confirm the buy signal.