Reason: The Chart offers an Opportunity
The Weekly Chart Of Godrej Industries
Here are three Observations one can make:
1. Godrej Industries stock is in steady uptrend on weekly Chart
2. On every decline to 200-week moving average - the stock has found buyers and it has resulted in good rally
3. Godrej Ind stock is at 200-week moving average
The Big question: Will Godrej Ind investors be third time lucky and stock bounce again?
We don't know at this point of time but History is on the side of bounce. One can put a small 3% stop loss below 305 and hope for a bounce That's how strategies are made on charts.
1. Why Apple needs to borrow when it has so much cash?
2. INR has depreciated by 70% in last 8 years
3. Nifty is right now standing at the ULTIMATE support level
4. This is one stock I like the most in current market environment
5. Science of Stock Price Action Video Book
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers