1) On Daily Time Frame, it is trading above 44 DMA and keep on taking support from it.It took 2 time support from 44DMA.
Please refer Chart below: Daily time frame.
2) On 1 hour time frame, it is now on critical Zone.
Please refer Chart below: 1 hour time frame....
If it open below 1660 and breaks 1660 levels and trade above it then it will be a entry point for buy trade. And if it faces resistance then it will be short trade but short below 1655.
If tomorrow, it comes to test 1630 level and gets support then it will be a good entry for buy trade.
Book Partial profit on 1648 quickly on either...
GODREJ CONSUMER, Weekly Chart
Has given Break-out of H&S pattern at 780,
with Good support ot RSI, MACD, & DMI ADX.
StopLoss of 753,
can show levels of 859, 978, & 1115.
I am not SEBI Registered Analyst.
My studies are for Educational purpose only.
Consult your Financial Advisor before Trading or Invseting.
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 &...