Buy Godrejpropabove 1320 tgt 1490/2300/4200 sl below 1120Company has given a good guidance for the upcoming quarters as well as the stock is about to break the sown ward channel. So currently at good accumulation point near 200 Weekly EMA which will also act as good support zone. The out look is to buy on dips and keep adding for the short and medium term outlook.
Godrejpropanalysis
GODREJPROP - Stock AnalysisGodrej Properties Ltd. is displaying strong bullish momentum in both technical and fundamental aspects, making it an attractive option for investors.
From a technical standpoint, the stock exhibits several "Strong Bullish" signals. The PriceVol indicator suggests a "Strong Bullish" sentiment, with rising prices accompanied by increasing trading volume in recent sessions. The HighLow indicator indicates "Strong Bullish" sentiment, with the stock near a one-year high and showing a robust uptrend.
The one-day analysis is "Strong Bullish," with the latest tick displaying a strong price rise supported by good volume. The Parabolic SAR (PSAR) is "Bullish" with a bullish crossover, while the KeltnerBand, HighLowBand, Awesome Oscillator, MAChannelBand, and Supertrend all indicate "Strong Bullish" signals, showing positive breakout patterns.
The MACD (Moving Average Convergence Divergence) is "Bullish" with a bullish crossover of the Macd and Signal lines, although it's noted that there have been frequent crossovers. The Williams %R and Fast Stochastic are "Bullish," indicating they are in the overbought territory, but the uptrend appears strong, suggesting that shorting the stock at this point may be risky.
The CMF (Chaikin Money Flow) suggests "Bullish" sentiment with very strong buying pressure. The daily, weekly, and monthly candlestick patterns all reflect bullish sentiment, with the weekly and monthly patterns displaying "Strong Bullish" signals.
In terms of resistance, the stock has encountered short-term resistance levels, with top points at 1716.0 on November 2, 2023, 1707.5 on October 17, 2023, and 1727.45 on October 11, 2023.
From a fundamental perspective, Godrej Properties Ltd. demonstrates positive trends. The company's Book Value has been trending upwards over the last three years, indicating a strong financial position. The Piotroski F Score is at a stable value of 4.0, which signifies sound financial health.
There has been annual net profit growth over the last three years, and the company's EBITDA has been continuously increasing for the past three years. Godrej Properties Ltd. maintains a good net margin of 22.11%, suggesting healthy profitability. However, it offers a very low dividend yield of 0.550%, indicating a preference for reinvesting profits for growth. Additionally, there has been a steady increase in Total Assets over the last three years, reflecting the company's ongoing growth and financial stability.
In summary, Godrej Properties Ltd. offers a compelling investment opportunity with strong technical and fundamental indicators. The stock's bullish technical signals, coupled with its solid financial performance, make it an appealing choice for investors seeking growth potential in the market. Nonetheless, investors should continue to monitor both technical and fundamental developments for a comprehensive understanding of the stock's potential.
Go Long above 1726.60
Stop Loss 1588
Godrej Properties NSE:GODREJPROP
Entry at current market price -
Gains: 15%
Duration: 3 months
If the price comes down to green box, it's a perfect buy zone.
Entry at green box -
Gains: 27-30%
Duration: 4 months
*Not a financial advice.
My charts speaks louder than words.
I'm a chartist and I paint charts.
Godrej Properties has fallen about 56% from its highsGodrej Properties
The stock has fallen about 56% from its highs and the charts are still not at their best, meaning it could fall further.
Now the question is how much further?
The next support that I got from it from monthly and weekly charts are at 865- 740, this is the zone, where it consolidated earlier and saw a massive move on the upside.
Major resistance 1500-1550
Immediate resistance: 1300- 1330
Major Support @ 740- 865
GODREJ PROPGordej Prop broke the trendline as well as an important resistance zone which is acting as support now.
Only enter this if it sustains above this level. Good R:R is expected with minimum SL.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
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.