GODREJPROP: Stuck in a range!

The stock has been in this range for over 3 months now. The 100 point range i.e., 840-940 seems to be holding for now. It bounced back strongly from the support levels today and closed on a high. Expect it to test those upper levels again in a week or two. The trade right now is to go long with a stop below 840 on a closing basis. Remember this is a large cap & one of the best in the Nifty Realty pack, DLF also has seen a sudden surge in the last hour of trading today. Both these stocks might see a good spike on Monday if the market supports. A good trigger on the upper levels is awaited, maybe the Q2 results + Order book can act as a trigger this time. Note: Don't completely rely on this, please do your own research as well, this is for educational purposes only.


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