Weekly chart - C wave (long term) is positive, As is the Daily Chart
Breaking out and then pulling back into support. Buy at support levels of 930-920 for target of 1000 + (3 ATR) in 3-5 weeks time
Keep stop below - 1 ATR (14 day ATR) around 900 levels. Ideally buy call spreads for April on this
GODREJCP:- Ascending triangle pattern has formed, wait for a proper breakout, till then keep an eye on the stock
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
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Godrej Consumer product is tending to break its long term triple top resistance .Also a short term cup and handle formation happened. So upward movement is sure .
Godrej Consumers has given a long awaited breakout above a 14 month long trendline. It went sideways for around 8 weeks before closing above the trendline on weekly basis.
The BB is challenged and RSI has closed at 60, both are bullish signs. The consumer sector has underperformed in last 3 months and Godrej has been on of the best performers in this sector in...
GODREJCP dailychart can be seen forming Cup and Handle Pattern. A potential breakout can be seen above 957.
Disclaimer- This trade setups is for educational purposes only.
GODREJCP - Price is taking upport on its Demand Line, and the current trend is positive. RSI Bullish Divergence and price action indicating strength.
This trade will be low risk and great reward, in my viewpoint.
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Don't panic if you have Godrej Consumer in your portfolio.
Why is the stock price falling?
The stock price is declining. Because Godrej Consumer's management recently published a report in which they stated that "may be in Q2FY23 EBITDA margin can go down due to commodity price and inflationary pressure."
This stock has been in a downtrend. Few days earlier, it has broken out of trend reversal double bottom pattern. Also retested the the neckline couple of times. In fact, both the times, it went below neckline and again came up with a huge volume. This clearly suggest that strong buyers are standing below that level. The stock is consolidating near it's downward...
Stock Name - Godrej Consumer Products Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 951
#This is not Buy and Sell recommendation to any one. This is...
Key Reference Points for Godrejcp Futures for tomorrow i.e. 7th Aug 2022.
These Reference Points can help one to initiate or exit a trade.
I am not Sebi registered.
This is for education and research purposes.
