Gokul Refoils & Solvent Ltd

Gokul Refoils & Solvent Ltd. (GOKUL) shares recently experienced a significant breakout after consolidating for 12 years since a high in 2010. The breakout, marked by strong technical performance and buying volumes, indicates renewed investor interest and a bullish trend. Previously in a long-term downtrend, the stock is now showing potential upside.

In January 2024, Gokul Refoils expanded its business by amending its Memorandum of Association to include the production of various industrial oils, aiming to diversify its product portfolio and boost future revenues, especially in industrial sectors.

The chart suggests several key price targets. The first target is set at ₹65, with the current market price being ₹57.20. The second target is ₹73.40, followed by ₹86.80, and finally ₹98. Reaching the final target will require significant investor conviction and momentum in the stock.

Additionally, promoter shareholding increased by 1.61% to 74.62% in the last quarter, adding further confidence and momentum to the stock’s bullish outlook—an icing on the cake for investors.

Caution : Do your own research (DYOR) before buying.