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Godrej Industries


52 week high: 334.80 (22-APR-14) /   52 week low: 217.65 (28-AUG-13)

Accumulate @CMP 322 , Stop  of 300, Targets 375 to 380....Major Target of 500

Analysis:- We have bullish view on Godrej industries, It is forming higher top & higher bottoms, (channel pattern), on weekly basis. Prices have strong trend line support from past six years sideways rally. It gave positive reversal with huge volume in sideways rally. Price has closed above 55 weeks simple moving average levels, 55 weeks SMA is strong supporting levels which it has maintaining from past five weeks. We are expecting this positive reversal an indication of strong upcoming new Bull rally & channel patterns positive breakout signal. 

 Godrej Industries has given weekly close above previous immediate tops on weekly basis, & above 335 levels Godrej Industries will show aggressive Bull rally.

We advice to accumulate Godrej Industries at current market prices of 322 for targets of 375 to 380 major target of 500, 300 levels is stop loss trigger point in this trade.

Godrej Industries (Weekly chart)

Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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