GODREJAGRO trade ideas
delivery buy godrejagrovet above 542 tgt 600 sl 501risk to reward ratio is 1:1 . if anyone interested . high delivery since last few days
Godrej AgrovetSimple Setup
Stock falling from Sept 16th 2020
But with low volume.
Long wicks at bottom are more.
More than 20% of candle body.
on 25th Sept touched around 9EMA.
Today was a breakout above 9EMA around 504 levels
If close today (28th Sept) above 504 then we cn buy for a 20 to 30 Rs move.
15Th candle was the first target.
ATR too falling.
In the process supported by RSI and Stochastics
A possible trade, as long above 9EMA closure today.
GODREJ AGROVET - BULLISH SETUP OBSERVEDGodrej Agrovet
CMP 655.
Stop 610
Target 750 plus
Daily Chart
1) Stock has broken out of the long term horizontal resistance line with good volumes.
2) HL and HH formation observed in the process of the breakout.
3) Stock has gone past 30 period EMA propelled by Double bottom (W pattern) setup.
4) RS is at a new high.
5) Stock can retrace a bit to form another HL towards 635-640 before swinging upwards again toward 750 levels.
