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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Godrej Consumer Products Ltd - 27.05.2022
The stock is trading @ 784 levels
The prices are above EMA
There is a SPINNING TOP & DOJI in Daily Chart
There is a HAMMER in Weekly Chart
There is a STRONG SUPPORT @ 751 levels
The ideal buy entry is 777 & above
Watch out for the price action
NSE:GODREJCP
Observations:
1) On 1 day time, we can see now it closed just at 200DMA.
200DMA is placed at 924.91 level.
From here we can expect a good move on either side.
Please refer below chart : 1day Time Frame.
2) On 1 hr time frame, we can see that is has been trading in range of 915-930.
For positonal trade if 1 hr time frame is giving...
NSE:GODREJCP
Observations:
1) On 1 day time frame, it has been successfully trading above 50DMA.
But it is still below 100DMA.
50DMA is placed at 937.85 and 100DMA is placed at 992.77
Please refer below chart : 1 day Time Frame.
2) On 1 hr time frame, it has made bullish flag and pole pattern.
If it gives breakout of it and patterns get activated then...
I hope you can now see how GODREJCP represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
GODREJCP is at the critical level.
Any side move can give it good momentum.
Trade with proper risk management and strict stop loss.
NOTE-
We are not SEBI registered.
This is only for educational purpose.
Please consult your advisor before making any trade or investment.
![GODREJCP: Simple Trade Setup | GODREJCP | 18-01-2022 [INTRADAY]](https://s3.tradingview.com/a/aG86U9jW_mid.png "Simple Trade Setup | GODREJCP | 18-01-2022 [INTRADAY]")
![GODREJCP: Simple Trade Setup | GODREJCP | 10-01-2022 [INTRADAY]](https://s3.tradingview.com/b/BajAIOF0_mid.png "Simple Trade Setup | GODREJCP | 10-01-2022 [INTRADAY]")
