This is an analysis for the near term(1-2 Quarters) Do you think it may enter back into the trend, is there some fundamental changes to the company?
Do comment below, in my opinion it is quite possible, its a lower risk to invest as the price is quite low(using "The intelligent investor" logic), my view in the short term is mildly bearish neutral considering the...
Price forming a clear Inverse Head and Shoulder pattern and it is trading near to the long time resistance. Price tries to break this resistance levels twice and unable to hold the momentum and lost the battle to sellers.
One can expect the price to break the resistance levels this time to have the right volume and momentum to reach the target levels.
If you...
GODREJIND: BUY 489.6 Stop loss 478 Target 510
GODREJIND has traded on NSE with volumes more than 5 times its average.
Buy 489.6
Stop-loss 478
Target 510
Trade at your own analysis.
Presently, moving above 100 EMA and chart pattern showing an upward trend which may give a move of 20-30 pts.
If it breaks the upper resistance line above 660 level it can give a good move.
MACD is above zero line with bullish crossover.
Keep watch on it for future price movement.
