The stock has given an inverted Head & shoulders break out on weekly and daily time frame, the move is also supported with decent volumes.
The stock can head higher towards 820/850/880 levels in the coming weeks as long as 740 is not taken out on closing basis.
Ideas shared are for educational purpose only.
I will buy GODREJCP because :
It has been taking support at the trend line .
It has touched the trend line a few times and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the trend line downward then look at shorting opportunity .
Entry : 694/709/720
Target : 772/850
Stop loss : 670
NSE:GODREJCP Scripts has generated Inverse Head and Shoulder and on weekly chart its trading with good volume.
Entry for Swing Holding Trade can be taken at 786 keeping SL 712 . Possible Target of 930-940 can be aimed.
GODREJCP - Analyzing the chart...
1. Future Cloud is Bullish
2. Slope of Senkau Spans, Kijun Sen and Tenkan Sen all are upwards
3. Stock has shown a fresh breakout from 3-4 months long trading range
A. Buy with stop loss of Rs. 750.
B. Exit if today's close is back in range.
C. Target of Rs. 850, over and above this levels a trailing stop loss...