Stock Name - Godrej Consumer Products Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1052
#This is not Buy and Sell recommendation to any one. This is...
Prices have cleared its resistance zone of 950-980 decisively.
Price behavior visually looks similar to previous bear phase move between 2019-2021.
If the past price behavior is to repeat, we could witness a strong rally to form a new high around 1250.
Bullish outlook remains valid as long as price sustains 900.
Analysis Criteria Used:
1. Please find the Chart Analysis done for the 2nd April, 2023 and the upcoming week.
2. The analysis for the Swing Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
The big red candle would have compelled most of the retail investors to sell and get out of the script. I see this as a shake out before a big rally. Views please
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 4th May, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your...
Weekly chart - C wave (long term) is positive, As is the Daily Chart
Breaking out and then pulling back into support. Buy at support levels of 930-920 for target of 1000 + (3 ATR) in 3-5 weeks time
Keep stop below - 1 ATR (14 day ATR) around 900 levels. Ideally buy call spreads for April on this
Godrej consumer products is giving a breakout from triangle pattern which gives opportunity for quick 4% to 5% gains.
Stop loss can be considered at 973 levels on daily closing basis. Immediate support can be considered at 950 levels.
It is already trading in overbought zone, so opening a new position can be slightly risky.
Strict following of stop loss is...
Attached: Daily Live Market Chart as of 25th April 2023
Price put in a Breakout and turned out to be a False Breakout triggering a Rising Wedge Breakdown instead
Targets mentioned in Chart, Stop Loss as per Risk Appetite or today's High
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You...
![GODREJCP: [3BBR] Entropy Buy Idea](https://s3.tradingview.com/o/OGQPjdA4_mid.png "[3BBR] Entropy Buy Idea")
