GODREJ CONSUMER PRODUCTS LONGA clear Inverted Head and Shoulders pattern can be seen on the weekly charts, indicating bullishness. A breakout of the Inverted H&S pattern is seen. Further, a breakout of the 2 year long resistance point accompanied with a retrace is seen. (OPEN THE CHART FOR DETAILED VIEW)
LEVELS:
Entry: CMP (860-861)
Target 1: 918
Target 2: 972
STOP LOSS: 802 (Closing basis)
TRAIL STOP LOSS
Risk-Reward Ratio FAVORABLE
RSI a bit high but ain't a problem, can be a sign of good momentum
Breakout sustained
Perfect retrace
MACD bullish
Volumes Check
I would recommend a long swing trade on Godrej consumer Products
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