Godrej Consumer: Long Position Idea

May 26, 2021

Buy around 825 - 830
TGT: 867
SL: 798
RR: 1:3

Jun 12, 2021

Trade active

Target Reached Successfully!!!

Recommendation:
It is prudent to keep SL instead of booking profits.

At this point, we can keep our SL at little below low of last candle.
In this case it would be at 883 ( Previous low: 886.10)

We will keep on trailing our SL as price advances.

Jun 17, 2021

Trade closed: target reached

We can book profit by selling stock @ 908
Profit achieved = 10% (908 - 825) in 22 Days!

Reasons to Book:

1. Bearish Harami Candlestick Pattern has been formed at the top.
2. Price is trading below bearish candle.
3. RSI came down from overbought zone