Godrejcp is closed at trndline itsef with volume. FMCG pack is not looking so bullish,so 722-723 may act as resistance. Buy can only be initiated above this level for the target of 750 and more
- Looks good above 720.
- Volume also good but there is no consolidation near resistance, a little more consolidation needed for a good breakout!
So Keep Eye on It! :)
#GODREJCP if closes above 720 will signal a break out from the consolidation & can go towards 770.So can be bought if closes above 720 for a target of 770.
Bearish Gartley observed in GODREJCP
Wait for a strong terminal bar in hourly timeframe for entry
Target 1 = 630, Target 2 = 603, SL = 722
Reward : Risk = 3 (approx)
To repeat, stock is in strong uptrend, enter trade only if strong terminal bar is seen.
It is satisfying all the rules which we follow :
1. Always buy/sell with the trend.
2. Always wait for the last kiss/breakout.
3. Always buy the second candle after retest.
Please follow the marked levels to book profit .
A Quick trade for Intraday..
Buy only if it breaks it with good volume!
Disclaimer : Only for educational purpose. Please consult your financial advisor before putting money into the market!!!
Levels are mentioned on chart.
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Thank you. Happy Trading!!!
Best Regards,
Dr. Shamraja Nadar,
PhD in Technology.
Disclaimer
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All investments involve risk, and the past performance of a...
Using On Balance Volume and Vix fix ( which i use very effectively) can see a good buy in Godrej Consumer Products.
target 100 points move in about 10 trading sessions
