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Published on 7/12/2018 4:38:26 PM | Source: Choice Broking Pvt Ltd

Buy Godrej Consumer Products Ltd For Target Rs.815.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #FMCG #Godrej Consumer Products Ltd #Trading Report #Choice Broking

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*  On a daily chart, the stock has been trading in higher top and higher bottom where it has taken support of its lower band of the formation which indicate bounce back in the counter.

*  Moreover, the stock has been trading above 21 as well as 50-Days Exponential Moving Averages which suggest a positive movement in the stock.

*  On an hourly chart , the stock is on verge to give breakout of its Two days range bound movement which indicates an upside movement in the counter.

*  A daily momentum indicator RSI’s reading is at 55.86 level and about to make a positive crossover, which points put for a positive breath in the stock.

*  Based on the above technical parameters, we are expecting an upside move in the stock in few trading sessions.

Recommendation

Buy Godrej Consumer Products Ltd Dec Fut @ 754.15-757.90 Stoploss 730 Target  815

 

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