Reversal Descending Triangle pattern in GODREJCPGODREJ CONSUMER PRODUCTS LTD
Key highlights: 💡⚡
📈 On 1 Day Time Frame Stock Showing Reversal of Descending Triangle Pattern.
📈 It can give movement upto the Reversal Final target of Above 1251+.
📈 There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto Above 1370+.
📈 Can Go Long in this stock by placing a stop loss Below 1150-.
GODREJCP trade ideas
Godrej Consumer Products, a good buyGodrejCP is making an inverse head and shoulder at 30 min
It has retested the weekly resistance level which may act as a support now.
On daily timeframe, it has made a doji on 50 EMA support, which also shows reversal
Apart from that it is happening on FIB golden zone
A very high quality trade indeed
GODREJCP
NSE: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.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Ascending Triangle pattern breakout in GODREJCPGODREJ CONSUMER PRODUCTS LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Ascending triangle Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 1012+.
✅Can Go Long in this stock by placing a stop loss below 979-.
Godrej Consumer Looking to bounce from channel bottom.Godrej Consumer Products Ltd is one of the leading Fast Moving Consumer Goods (FMCG) companies in India. The company has five product segments namely Household Insecticides, Soaps, Hair Colours, Liquid Detergents and Air Fresheners. The company has established a strong international presence through a slew of acquisitions over the years. GCPL is among the largest household insecticide and hair care players in emerging markets. In household insecticides, it is the leader in India and the second largest player in Indonesia. Further, its manufacturing facilities located abroad in South Africa produce a range of personal care products and hair colour products.
Godrej consumer Limited CMP is 982.95. The Negative aspects of the company are High Valuation (P.E. = 60) and FIIs are decreasing stake. The positive aspects of the company are No debt, Zero promoter pledge, MFs are increasing stake, improving annual net profit and improving cash from operations annual.
Entry after closing above 987. Targets in the stock will be 1002, 1009, 1029 and 1042. The stock can be compounded after each level. Long term targets in the stock will be 1066, 1084 and 1102. Stop loss in the stock should be maintained at closing below 960.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
It's a BREAKOUT on the chart of Godrej Consumer!!!!A CLear BREAKOUT from a major resistance, bullish daily close, beautiful support on a trendline, and the next resistance is 16.55% above.
Godrej Consumer and The FMCG Index have been on the uptrend for the last one year. Codrej CP has been taking beautiful support on a trendline which can act as a stop loss and today this stock has given a BREAKOUT from a major resistance with a bullish daily close. To make an entry we should wait for this weekly close for the confirmation of this BREAKOUT.
This stock has the immediate potential to give a 16.55% of return against the stop loss of just 3.10%.
In the Long run, it has the potential to give 44% gains from today. (Based on Fibo Retrenchment)
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).