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The technical of godrej consumer products suggests a strong buy. A spinning top appears which can lead to great increase or decrease in the stock. The fundamentals of the company are very strong and the quarter results are also about to be announced today.
Supporting's to the trade plan
Spinning top with high volumes(>10 days SMA)
MACD is above the 9day SMA ...
It is been observed that in the range of 1550-1565, there is a high selling pressure that takes the prices down to lower levels. Today price action showed tremendous weakness at that range level that formed a long red candlestick with a upper wick showed price rejection on higher levels. I would recommend shorting it for a while until the price action breaks above ...
Price action is building lower lows, can expect a target of 1492