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
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Trade closed: target reached
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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!!