Thursday, June 13, 2013

GODREJ CONSUMER PRODUCT

GODREJ CONSUMER PRODUCT

GODREJ CONSUMER PRODUCT has a long rally for 1 and half year. Now stock broke down of the trend line support.It looks like stock took support at 100 DEMA. But the channel break down looks like a strong break down, Stock may see huge fall below 100 DEMA and 200 DEMA. Sell the stock below 100 DEMA. for good targets. Sometimes channel breakdowns will show good price moment down wards. Trail your shorts after shorting while price moves downward.

Targets could be

1. 200 DEMA @ 740
2. 38.2% Fibo level @ 735.4
3. 61.8% Fibo level @ 599

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