July 13, 2017
Godrej Ind. (NSE Cash)
668 - 665
5 - 10 sessions
from ‘5 EMA’
Source: Falcon (Time: 14:05 IST)
We have witnessed a spectacular rally in this stock in last six months as the stock prices gave a massive appreciation of nearly
50% in such a short span. However, we can now observe some early signs of exhaustion on daily chart. We can see a cluster of
‘narrow range’ candles around the 680 mark. More importantly, the stock prices are now moving quite far from the ‘5 EMA’ on
weekly as well as monthly chart. When such development happens, we see some profit taking to pull the prices towards the
moving average. Thus, despite being in a strong up trend, we would expect some breather in the near term.
are advised to sell this stock at current levels and on bounce at
668 for a target of
631 over the next 5 - 10 sessions.
The stop loss should be fixed at
022-3935 7600 Extn: 6552
July 13, 2017
Last 6 recommendations
CMP Target 1 Target 2 Stop-loss
1000 - 1009
167 - 168.50
1047 - 1056
Booked Profits at 1125
634 - 639
376 - 380
Source: Angel Research
Research Team Tel: 022 - 4000 3600
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