In just four years, Gensol Engineering, a company that provides EPC (Engineering, Procurement and Construction) services related to setting up of solar power plants, has made investors rich. The stock has gained 5,200 percent in price since 2020. That means that the current investment value of Gensol Engineering shares purchased at a cost of ten thousand rupees in 2020 is five lakh rupees.
Gensol Engineering (
BSE : 542851, NSE : GENSOL) recorded in the stock. The stock, which gained 32 percent in price in one month, has gained 91 percent in six months. Meanwhile, the closing price of Gensol Engineering stock was Rs 1,112 last Friday. Let’s see the future prospects of this stock from here?
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Gensol Engineering stock is currently in the demand zone of Rs 1,010-1,050. Milen Vasudyo, technical analyst at brokerage firm Arihant Capital, said that if this level can be maintained, the share price will continue to advance. The stock is now showing a slight correction after the earlier advance.
Therefore, technical analyst suggested that current buyers of Gensol Engineering stock should set stop loss at Rs 1,010 level. Meanwhile, Arihant Capital’s technical analyst added that if the level of Rs 1,010 is not broken, the share price may rise to Rs 1,200 in the first phase and further to Rs 1,350 in the near future.
Meanwhile, Gensol Engineering stock remains above key moving average levels. However, RSI indicator standing at 75 indicates ‘overbought’. Hence, the stock may be corrected towards the Rs 1,000 level, said Vaibhav Kaushik, research analyst at GCL Broking. From here, stock buyers should set a stop loss of Rs 951. An analyst at GCL Broking said that the stock may advance to the level of Rs 1,370.
(Disclaimer: The investment advice in the stock is given by the brokerage firms on their own. Times Internet is not responsible for this. Stock investment is subject to the possibility of profit and loss. Before investing in shares, you can seek guidance from SEBI approved market analysts.)