Long Godrej consumer above 925 .Entry after the BO of the reistantance area. Target 960 SL 915. on a daily basis we have seen a bullish engulfing candle on the chart & RSI also touched the level of 60. Good risk to reward ratio. This is for your educational purpose only.
GODREJCP Daily Chart Analysis:
This counter is trading currently at 20% down from its ATH. After the break down form the trendline, the price has fallen to its 200 EMA on Daily chart.
GodrejCP can prove to be a good swing trade with upside potential of 20-23%, if it takes support on this level and shows signs of reversal.
In case it closes strongly below 900,...
GODREJCP is forming bullish pattern in MACD and formed hook in MACD (5,15,30) , also there is resistance breakout at 975.
Keep SL at 965 and T1 will be 1000
Let's see what happens next .
a nice cup pattern and higher high and lower lows formation is seen that looks good for swing trading with current buying zone.
looking good for long term also with 30-40% target.
for swing trade.... 10-15% target.
stop loss on daily closing basis .... 920
Godrej Consumer Products Ltd. engages in the manufacture and sale of personal and household care products. The firm operates through the following geographical segments: India, Indonesia, Africa and Others. It offers household insecticides, hair color, liquid detergents, soaps and air fresheners. The company was founded on November 29, 2000 and is headquartered in Mumbai, India.
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