Godrej Consumers –Buy-India Infoline
The stock has been moving sideways and in a narrow range of Rs337-Rs350 for almost a couple of weeks after rallying sharply from Rs302 to Rs372.
As of now, the stock is successful in adhering to its 50% retracement support corresponding at Rs337 which earmarks inherent strength in the counter. After yesterday’s close above Rs348, RSI signaled a positive crossover along with bullish piercing line pattern on candlestick.
This dual confirmation is likely to trigger positive momentum in coming days. We advise buying stock above Rs350 with stop loss of Rs344 for target of Rs365.
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Category: Broker tips
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