|Buy Range||630 – 645|
|Target||695 – 705|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||9 – 10%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|638.25||BUY||630 – 645||695 – 705||608||20 – 25 Trading Sessions||9 – 10%|
# CMP on Sep 16, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 667.
^ The returns are calculated based on CMP#
Godrej Consumer Limited engaged in the manufacturing and distribution of personal and household care products in India, Africa, Indonesia and internationally. The company offers hair colours, liquid detergents, soaps, air freshners, skin care, fabric care, hygiene and dry hair products. Established in 1897, the company has few popular brands in it’s portfolio e.g. Godrej Expert, Cinthol, Godrej No. 1, Hit, Godrej Ezee etc. The consolidated revenue drops 5.92% to Rs 2,330.59 crore as against the year-ago period.
|Sectoral Index||Nifty FMCG|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock has formed a falling wedge pattern on longer time frame chart since last year, which is an indication of bearish consolidation.
- The stock price recently makes Breakout above the true crucial Weekly Resistance of the wedge pattern, at 630. This indicates that the stock looks set to continue the uptrend in the coming days.
TECHNICAL OBSERVATIONS (DAILY)
- Higher Tops and Higher Bottoms at Daily Chart.
- Last few days stock is trading above the 15 days MA and recent closing above the Upper Bollinger Band indicating probable further price rise.