BUY GODREJCP ABOVE 1092 TGT 1105/1125 SL 1075
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TECHNICAL VIEW: The Rounding Bottom pattern
seen in daily chart of GODREJCP. It is a long-term reversal pattern that is
best suited for weekly charts. It is also referred to as a saucer bottom, and represents a long consolidation period that
turns from a bearish bias to a bullish bias.
After showing correction from
the higher level, now GODREJCP is trading in recovery phase, it is likely to
continue the upside move in near term with the crossing of the resistance level
of 1100 as the stock is managing to sustain above the level of 1100. It
is likely to continue the positive movement towards 1125/1150. 22 and
55&200 days moving averages seen as SUPPORT level with the RSI of
70, One may get the targets of 1125,1150 in the stock with the stop loss
of 1075. Primary trend of the GODREJCP is bullish. Strong Support level
seen on daily chart at 1050. 1114/1124 level seen as a strong resistance
level.
DAILY CHART
FOR GODREJCP:
Nifty50 slipped below the 10,500-mark to 10,466.95, down 87.35 points, or 0.82 percent and Shares of Punjab National Bank slumped over 6 percent and fell to a 20 month low..EQUITY CASH CALLS
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