Godrej
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.
MyAlgo: xRWave-Blaster: Intraday call:14Jun-GODREJCP-ShortBased 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 -
T1: 1157.4
T2: 1152.1
T3: 1146.6
SL: 1175.4
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 and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
Godrej Consumer Products - On High Selling Pressure (Sell)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 the 1565 level.
Target: 1480
Stoploss: 1585