Godrej Properties have corrected a lot from highs but now it is taking a support at long term trendline. Realty sector is fundamentally good for next 5-10 years to this correction looks like a good opportunity. The deal with DB Reality is off which Initially had a negative impact on the stock. Also due to overall correction in market and reality sector it is at...
Godrejprop looking bullish at weekly support formed inverse hammer on daily time frame a long position is considered from this level because of weekly support at zones and stop loss is very small
NSE:GODREJPROP
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
Price is at Strong Demand Zone.
Price is the testing this major resistance turned support for the first time, so major probability is it will not break, unless there is some insider news about the company fundamentals.
Can be accumulated for Long term at this Discounted Price in the Demand Zone, as it is a Strong Fundamental Company.
PS- I am not SEBI...
Although this idea of initiating a long trade is against the larger trend of 5 wave downmove in Godrej Properties but for the time being risk reward is favourable for going long. All other necessary info is published on chart. Trade at your own risk. I am only sharing my analysis and not a trade recommendation.
Elliot wave formation
on weekly time frame
when whole world is loaded with negative news for this counter
group is too good
clean chit image
good balance sheet
lets see it can be money spinner
have iron heart to catch this falling knife..
GodrejCp
Giving a Good Short Opportunity
Market broke support and retested it as a resistance in Downtrend.
1800 resistance is a round level with high CE open interest, confirming it to be strong resistance.
A Bearish Engulfing Candle confirming the same.
200 EMA and 21 EMA acting as a resistance to the same.
SL above Bearish candle
Wait for Market to retrace...
As we saw rising wedge formation and bearish divergence in GODREJ PROPERTIES on 15 MIN frame. Levels are and targets are mentioned in the chart itself.
