GODREJPROP trade ideas
Godrej Properties Channel Breakout- Voilent move anytimeGodrej Properties has been consolidated in a channel 850 & 925 for about 10 weeks.
Since expiry, heavy activity is observable at the upper limit of channel.
Any volume supported move possibly very soon can propel it towards 1100 levels with a minor resistance of 995-1000 zone.
SL can be low of the breakout candle & can be later trailed as per swing lows during the move. Script being very volatile, SL have to be set deeper in reference to the swing lows.
Trade #5 : GodrejPROP in accumulation phaseAll the details provided in the chart. The reality sector may see bullish rally soon as lockdown restrictions are openings and investors will start going back to property purchase considering the stock market is already at its peak.
DISCLAIMER:
As a trader, you should consider your own risk: reward ratio and do proper lot sizing according to your margin and leverage level. This analysis is a trading idea, not a trading signal for you. Consult your financial advisor before making any trade.
My own trend direction estimation, entry point, stop loss, and take profit levels are on the chart.
Please like, comment, and subscribe; if you find value on my analysis and/or liked my strategy.
Good Lucks.
GODREJ PROPERTIESNSE:GODREJPROP
868 SEEMS TO BE SUPPORT AS OF NOW
FROM CURRENT LEVELS IT CAN HEAD TO 892
IF IT BREAKS THEN, POSSIBLE LEVELS WILL BE 856 849 840
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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Science Backed by Data[GodrejProp Series]: Target 955GodrejProp has breakout with larger volumes. It has also broken its major resistance shown in chart. Looks good for target of 955 and higher targets. keep StopLoss @ 826- 862.
Chart also shows breakout levels and other resistance from past.
Please note that all levels are on closing basis and based your trades on individual risk appetite.
Narrow Range (NR7) -Inside BarPrice Movement for Godrej Properties is in Narrow Range (NR7) and it coincides within range of a Large Candle
High probability of Price expansion as early as tomorrow i.e. 12 June 2020
Price may get strong follow through after breaking either side of a large candle.
Watch-Out! may catch a good trade.
"Always Respect Risk and Protect Your Reward"
Happy Trading