GODREJ CONSUMER PRODUCTS LONG
Updated
A clear Inverted Head and Shoulders pattern can be seen on the weekly charts, indicating bullishness. A breakout of the Inverted H&S pattern is seen. Further, a breakout of the 2 year long resistance point accompanied with a retrace is seen. (OPEN THE CHART FOR DETAILED VIEW)
LEVELS:
Entry: CMP (860-861)
Target 1: 918
Target 2: 972
STOP LOSS: 802 (Closing basis)
TRAIL STOP LOSS
Risk-Reward Ratio FAVORABLE
RSI a bit high but ain't a problem, can be a sign of good momentum
Breakout sustained
Perfect retrace
MACD bullish
Volumes Check
I would recommend a long swing trade on Godrej consumer Products
Thanks
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!!
LEVELS:
Entry: CMP (860-861)
Target 1: 918
Target 2: 972
STOP LOSS: 802 (Closing basis)
TRAIL STOP LOSS
Risk-Reward Ratio FAVORABLE
RSI a bit high but ain't a problem, can be a sign of good momentum
Breakout sustained
Perfect retrace
MACD bullish
Volumes Check
I would recommend a long swing trade on Godrej consumer Products
Thanks
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!!
Trade closed: target reached
Target 1 of 918 ACHIEVED!!!!Entry suggested at 860 on June 3
Target 1 reached in just 11 days
7% RETURNS ACHIEVED, TARGET 2 ON TRAIL STOP LOSS
BOOK SOME QUANTITY HERE!!
Note
TARGET 2 REACHEDENTRY SUGGESTED AT 805
980 TOUCHED TODAY (TARGET 2)
21% RETURNS
BOOK FULL QUANTITY HERE
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