Godrej Consumer Products: Weekly Accumulation Showing Strength
After weeks of quiet accumulation near the 0.618 retracement (~₹1,105), the stock has now delivered a weekly close above the 50-week moving average — a constructive sign of improving sentiment.
The move also puts price right at the descending resistance trendline, where follow-through buying will determine if this recovery extends further.
The structure continues to look steadily constructive, with early signs of buyers regaining control.
As long as the stock holds above the recent base, the bias leans cautiously bullish.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
The move also puts price right at the descending resistance trendline, where follow-through buying will determine if this recovery extends further.
The structure continues to look steadily constructive, with early signs of buyers regaining control.
As long as the stock holds above the recent base, the bias leans cautiously bullish.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.