GODREJCP trade ideas
Godrej consumer , long termThe daily chart shows the scrip forming a W pattern with a retracement level at 61%. RSI and ADX indicate forming upward momentum in this stock. If it breaks the resistance can see upwards of up to 1000+.
A good point to accumulate stock for investing.
Target 1 = 1000
Target 2 = 1030
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GODREJ CONSUMERHello and welcome to this analysis on GODREJ CONSUMER - flagship co of the Adi Godrej and a dominant player in the FMCG Segment.
In the daily time frame it has activated a Head & Shoulder breakdown.
As long as it is below 765 it could slip further down to 710-700
Price is now near 740PE which has the highest OI but is seeing Short Covering while 750CE is seeing Fresh Shorting
Risk Reward looks good.
GODREJ CPGodrej CP forming a double bottom formation.
Wait for the formation to complete. Also once can enter as soon as it breaks the pattern for upside else after re-test of the formation.
The first target can be the above trendline (840 LEVELS).
Once the above trendline is broken and it sustains above 850 levels, we can see it further move till 1000 and 1100 levels as well.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
