Here is the chart of #GODREJIND.
Thought the base structure doesn't looks good, here are some of the features:
Formed a Flag-Pole Pattern
Is above 200 SMA
Good Spurt in Volume
Consolidating and forming a TIGHT FLAG
Be cautious, the Market Stance is WEAK and no Long should be initiated. Keep it on the watch list and let's see how it performs.
Let me know...
Refer to the enclosed comparison of NSE:CNXFINANCE and $NIFTY50.
NSE:CNXFINANCE looks stronger than $NIFTY50 and is evidenced by some Finance sector stocks coming out of the base.
Have a look at NSE:BAJFINANCE , NSE:BAJAJFINSV , NSE:CHOLAFIN , NSE:CHOLAHLDNG and NSE:SHRIRAMFIN
But given the Market Stance, which is too Weak, I prefer to Watch all...
#BAJAJFINSV NSE:BAJAJFINSV
1. Stock came out of its 200 SMA
2. Tested 200 SMA quite a few time and is holding above
3. Seems like a Cup, waiting for a handle to form
4. Market Stance is weak, hence long position to be avoided
