Ascending Triangle Pattern In GodrejConsumerPr(Daily Timeframe)!We can see the Godrej Consumer Pr is making ASCENDING TRIANGLE PATTERN in daily timeframe. We know ASCENDING TRIANGLE PATTERN is bullish pattern so i am avoiding to take sell side position. This is my personal reason to take only Long side trade if price breakes and closes above 986.30 level. The stock is in consolidation zone about 16 months. So as per my understanding it has gain sufficient momentum to show the upside rally in further trading sessions.
Entry = One can initiate the trade in the long side if prices successfully breaks and closes above 986.30
StopLoss = Stop Loss below 943.10. The reason behind placeing stoploss below its recent support level because i have seen many times the price could take support
exactly at recent support level and went up so to avoid Stop Loss to be hit i have given some buffer/ Tolerance to the Stop Loss.
I always believe in Factor of Safety.
Target = I have marked 2 targets (1)1071.55 (2)1137.85. But you can exit your trade if price is about to hit your target levels. If your 85% - 90% target achieved then you
can exit from your trade to avoid further volatility(If you want to play safe).
GODREJCP trade ideas
GODREJCP Weekly Bearish Divergence.Bearish RSI Divergence is evident on the chart. It would be a clearer indication if the RSI turns down making a lower high and price trades below the weekly low of 1001. If price trades below 1000 and if closes on the daily below that level, we could expect a target of 930.
GODREJCPNSE:GODREJCP
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Godrej consumer consolidation in intradayMarket sentiment are very nagetive stock traded in a range for the day if breakdown below 918 than targets of 902 can be seen and if stock breakout above 927 a quick target of 935 can be achieved but markets are very nagetive therefore short target should be made
Godrej Consumer Products trend analysis Godrej Consumer Products Limited is an Indian consumer goods company based in Mumbai, India. GCPL's products include soap, hair colourants, toiletries and liquid detergents. Its brands include 'Cinthol', 'Godrej Fair Glow', 'Godrej No.1' and 'Godrej Shikakai' in soaps, 'Godrej Powder Hair Dye', 'Renew', 'ColourSoft' in hair colourants and 'Ezee' liquid detergent. GCPL operates several manufacturing facilities in India spread over seven locations and grouped into four operating clusters at Malanpur, Guwahati, Baddi- Thana, Baddi- Katha, Pondicherry,
GODREJCPNSE:GODREJCP
WAIT in case of Huge GAP UP !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
GODREJCPNSE:GODREJCP
Enter After a strong close !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
GODREJCP Long Buy Idea🏆GOFREJCP new buying opportunity in daily TF.🔥
Stock supertrend beakout . & traded near automated trendline support area. same big trend is bullish & after short selling one buying movement start in this stock.
Daily RSI level is Above 60 & lower timeframe RSI level above 60 bullish🟢. same time Weekly & monthly RSI is near 53.so one chance to upside movement.
so if stock again touch near 865 level buy it small & Stoploss is near 845 & target is 🎯957
watchout stock chart for better understand technical analysis.