Godrejproperties at important support
Godrej Properties has fallen about 40% from its all-time highs in the past few months.
Currently Stock is trading near its imp weekly support @ 1470- 1430 levels.
If held all good, if not then the next good support I see is around 970 - 870 levels, about another 600 points from current levels 🤯.
As per the history stock, the stock does have the tendency of giving up 40-60% gain of previous rallies, so both levels can be seen in the stock.
The only resort we have is to Keep an eye on the price action near-immediate support levels, if any positive price action is seen, it might be a good Positional trade with great risk-reward ratio.
Currently, there is no sign of reversal and no sign of bottoming out, so keep an eye on the stock.
Disclaimer: Not a recommendation to trade.
Currently Stock is trading near its imp weekly support @ 1470- 1430 levels.
If held all good, if not then the next good support I see is around 970 - 870 levels, about another 600 points from current levels 🤯.
As per the history stock, the stock does have the tendency of giving up 40-60% gain of previous rallies, so both levels can be seen in the stock.
The only resort we have is to Keep an eye on the price action near-immediate support levels, if any positive price action is seen, it might be a good Positional trade with great risk-reward ratio.
Currently, there is no sign of reversal and no sign of bottoming out, so keep an eye on the stock.
Disclaimer: Not a recommendation to trade.
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