Godrej Properties Technical View:
-> The stock has been in a downtrend for the last many months.
-> Recently the stock has seen an increase in volumes and a falling wedge pattern being formed.
-> A falling wedge pattern indicates a major long term trend change. Sustaining above 170 would be the confirmation of a breakout.
-> Accumulate Godrej Properties at 155-160 with a stoploss of 145 and a target price of 200-250 in medium term.
Disclosure: The above chart was sent to clients and recommended as a long term buy.
Also it has been recommended on the CNBC Bulls Eye Program today.
You can check out the video of me. Will be coming on the CNBC Bulls Eye show around 10.50 am for this week.
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