Godrej Industries Technical View

>> Monday, August 24, 2009

I will give you Technical View on Godrej Industries through some Charts We will see Long term and very short term chart of the company to give a BUY or SELL signal . First Lets see a brief overview of Company . Godrej Industries Limited is India's leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries. It also manufactures edible oils, vanaspati and bakery fats. Besides, it operates real estate.

Share prices are at very important Resitance Level of Rs 150 at this point . Over last 2-3 yrs , Rs 150 has played important level for this company , to understand more , view the charts below , Click on it to enlarge .

Current prices are near that resistance level of 150 once again and from last some days dancing near those levels, This is a point where one has to really be patient to let the stock give you signal for buying or selling , one can buy above 160 and sell below 140 with proper stop loss. We can also see a short term chart to make a short term buy or sell signal . See the 5 day chart below .

I would recommend buying only above 158 and selling below 148 with strick stoplosses . If you new to Trading I would recommend you first get the basics , you can refer to this Ebook for new comers in stock market .

With Godrej Properties IPO coming soon , This stock can give surprises . So watch it closely .

This post is Written by Manish Chauhan , He blogs at http://www.jagoinvestor.com

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