1) Double bottom with negative divergence on a downtrend
2) sector has been negatively impacted due to rera for last 1 year
3) News - DSP MF buying Oberoi, Sunteck and Prestige in last few months
4) Risk - Home interest likely to be volatile due to currency and oil prices
Based on my "xRWave-Blaster" predictive trading methodologies, its going to be a RED candle on 14-Jun-2018 for GODREJCP
Sell Below(5Min candle close): 1166.1 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you...
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...