Go Fashion’s share price has rallied about 10% this week and is up 13% over the past month. This rally is unusual but not surprising considering the company’s first-quarter results, which have surpassed expectations. Its revenue grew five times over the same period last year, and same-store sales increased 30 percent over the pre-COVID period. However, there are a few reasons why the stock is soaring, and you should be prepared for them.
Go Fashion’s share price opened at a 90 percent premium on the NSE today. Currently, the company is trading at around 1050-1100 per share, which makes it a good time to take a profit. However, you may want to book a half-spot profit and wait for the share price to go higher. In the long run, Go Fashion’s share price will reach 2500-2600 per share.
Listed on the Sensex, Go Fashion (India) Ltd. is making its debut on the stock market. You can check the Go Fashion share price by visiting the BSE India website. Its IPO price is fixed between Rs 655 and Rs 690 per equity share. The minimum order quantity is twenty-one shares.
RSI, CCI, and MACD have all generated BUY signals for Go Fashion (GOCOLORS). These indicators indicate that the stock is trading in an uptrend. The stock’s price is near recent highs, indicating that buyers are increasingly bullish. The MACD generated BUY signal is also very strong.