NeeteshJain
Short

Godrej Consumer Products - On High Selling Pressure (Sell)

BSE:GODREJCP   GODREJ CONSUMER PRODUCTS LTD.
It is been observed that in the range of 1550-1565, there is a high selling pressure that takes the prices down to lower levels. Today price action showed tremendous weakness at that range level that formed a long red candlestick with a upper wick showed price rejection on higher levels. I would recommend shorting it for a while until the price action breaks above the 1565 level.

Target: 1480
Stoploss: 1585
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