The technical of godrej consumer products suggests a strong buy. A spinning top appears which can lead to great increase or decrease in the stock. The fundamentals of the company are very strong and the quarter results are also about to be announced today.
Supporting's to the trade plan
Spinning top with high volumes(>10 days SMA)
MACD is above the 9day SMA...
The reasons that support the above trade plan:
Formation of bullish harami with a reasonable volume
Support and resistance gives a green flag to the trade.
Risk reward ratio for the trade is reasonable.
From the long term perspective the spice jet is one of the best shot to be given. As the aviation is the most growing sector with respect to indian economy...
The following are the list of things I would like to mention to support the trade plan:
Support and resistance accepts the trade plan.
Relative strength shows an over sold position and intimating a buy position in the stock
Volumes greater than 10 days average and leads to spinning top
Spinning top is a candlestick pattern with little body and...