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Published on 17/04/2018 4:28:04 PM | Source: Choice Broking Pvt Ltd

Buy Godrej properties Ltd For Target Rs.800.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Real Estate Sector #Godrej Properties Ltd #Trading Report #Choice Broking

* On an hourly chart, the stock has started to trade above its 200 Hourly Exponential Moving Average which shows a positive movement in the counter.

* On a Daily chart, the stock has given a breakout of its Falling Wedge formation which is a bullish reversal pattern and suggests a bull run in the counter.

* Moreover, a sudden spurt in the volume has been witnessed which shows a renewed buying in the counter.

* A daily momentum indicator RSI reading is at 58.52 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Godrej Industries Ltd @ 730-740 Stoploss 715 Target 800.

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