Godrej Consumer looks great on weekly and daily, Buy
- Weekly chart - C wave (long term) is positive, As is the Daily Chart
- Breaking out and then pulling back into support. Buy at support levels of 930-920 for target of 1000 + (3 ATR) in 3-5 weeks time
- Keep stop below - 1 ATR (14 day ATR) around 900 levels. Ideally buy call spreads for April on this
Trade active:
Looking good - i am tempted to add more now that the stock has shown a lot of strenght. I think earnings will be good - as we know someone already knows that as is buying the stock right into earnings
Trade closed: target reached:
Hopefully exited it at a high or at least break even. Trend now broken - exit
Best advice ever - Cut your position size by half.
* These are merely ideas and not a recommendation to take a trade
* Trade small size & keep a wide stop loss (atleast 1.5 ATR). Dont fall into the trap of tight stop losses & big positions
* Be patient when in the trade - the stock doesnt know you or care about your feelings.
* Be ruthless with cutting trades that hit your stop
* Be patient & wait for trades to come to you. Do not chase stocks - that only ends in disaster