It has made a bearish harmonic Alt Shark and an Evening Star Doji. A pullback till 675-650 is probable. A weekly close below 715 would be ideal. View negates above 735
As per the swing theory stated in Unofficed Bounce; GodrejCP is in clearly in Uptrend. But it just about to break the uptrend by few points if that gets broken.
Short if the Uptrend is broken.
Alternatively, it can be longed with stop loss at the last swing low too (Like a SAR trade i.e. stop and reverse the trade for sell trade if the stop loss is hit) but the...
Price is printing within the upward channel and taking support on previous resistance on WTF. On DTF, price is also printing within micro uptrend channel at lower value area.Long entry may be suitable near 705-713 with a SL 699. as the stock is moving with upward channel, hence Target 1 may be set at 765, near previous swing high.
IT IS SHOWING BULLISH DIVERGENCE WITH STOCHASTIC ALSO WAVE 12345 IS COMPLETED IN BEARISH SIDE SO THERE MUST BE NOW BULLISH WAVE 123 AGAINST PREVIOUS WAVE 12345 TARGETS ARE GIVEN FOR LONG WITH ARROW AND STOP LOSS IS ALSO GIVEN
NOTE: ONLY FOR EDUCATION PURPOSE
1) 200 EMA broken
2) Formed Bullish Head & Shoulder
3) Resistance at 715 - 30
4) if resistance broken & forms a bullish sign or consolidation above 715 then look for upper side
Godrej Consumer Products Limited is an India-based company, which is engaged in the manufacture of personal and household care products. The Company's geographic segments include Within India and Outside India. It offers hair care products. The Company's Personal Care range of brands includes Cinthol, Grade 1 soap, protekt, Soft & Gentle, Cuticura, Mitu and Pamela Grant. Its home care range of brands includes Good knight, HIT, aer, Ezee and Stella. Its hair care range of brands includes Ilicit, Touch of Silver, Roby and Renew. The Company focuses on regions, including India, Asia, Africa and Latin America. The Company offers a range of products in India, which include household insecticides, such as aerosols, liquid vaporizers, coils and mats; hair colors; soaps and air fresheners. Its protekt range of products consist of approximately three hand washes, a hand sanitizer and a personal mosquito repellent spray, including instant foam hand wash and alcohol-free sanitizer.
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GODREJCP
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