Godrej Industries Ltd on a daily chart stock price
is making higher high and higher low pattern with increase in volumes. indicate
rally will continue towards north. On an intraday 60-minutes chart, we
witnessed stock price was trading in a rangebound, but yesterday price has
breached the level on upside, show stock price can rally towards previous high
swing. Momentum Oscillator RSI has more room left on upside, which further add bullishness
into stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 400 for the target of Rs. 430 levels, with Rs. 384 stop
loss on closing basis.
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