Godrej industries

Jul 29, 2017

As we can see on 27th July stock took support around 669 at bottom of its regression channel but eventually on 28th godrej broke that channel and closed below 669 at 663.20 as we can see RSI is around 50 and MACD also showing negative signals(perhaps they are lagging indicator) and 8 day average delivery is around 39.46%(NSE+BSE) in which on 27th july there was highest delivery based selling

godrej may test 650-645 levels in coming trading sessions and if this levels broke it will march towards 620 in near future

Jul 31, 2017

Trade active

GODREJIND is taking support around 658-660 but it is not showing strength to hold level of 670-672 one make stop loss of this level and hold the short position

Aug 1, 2017

Note

todays low was 651.45 it is recommended that one should do partial profit booking around 650 level and wait for 620 revised sl should be around 669

Aug 3, 2017

Trade active

Aug 9, 2017

Trade closed: target reached

All target achieved stock trading around 609 one can hold position as it has broke support around 620