Godrej Industries Technical View

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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Nifty spot Daily Chart Technical View by Dhawal Joshi

This article is written by Dhawal Joshi.

Daily chart has given trend line breakout which suggest me Bull steam in the market is still their. I am in the opinion of that we may see 3240 (high of 5 – November – 2008) in near future why because if you have noticed we have seen good amount of buying from FIIs (god of the emerging Market) and I have not seen too much of shorts in the market so over all trend is up as far as Intermediate trend is concern.

Although I should mentioned here is that Friday's candle stick has formed spinning Top (The real body of the pattern is white and small and The upper and lower shadows are longer than the real body's length) which suggest some indecisions in the market so I suggest go long above 3106 (High of Friday) or above 3118 with stop loss of 2995.

I want to informed those who tracks technical please do not avoid Friday's Spinning Top because it is a warning about a potential change or interruption in trend. So please those who are a Trader please watch out for 3106-3118 (I prefer 3118) for any possible longs in the market.

Conclusion:- One may think here that I have given both Bullish as well as Bearish view in the market , yes you are right why ?because if you see chart pattern it is Bullish (Trend line Breakout) and Friday's candle (spinning Top) has warned of Trend change after Long rally.

Nifty Spot Bullish above 3106 – 3118 (I prefer 3118) support at 2995 (based on 30 Minutes Intra Day chart) Resistance at 3240 for Near Term.

Credits go to Dhawal Joshi. He has a good insight in markets. He writes on www.dhawalsjoshi.blogspot.com

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