GODREJ INDUSTRIES – Educational Technical View

📉 GODREJ INDUSTRIES – Educational Technical View (SEBI Reg. INH000019886 | For Learning Only) The stock has been in a strong continuous downtrend, respecting the falling 20 EMA and staying inside the lower Bollinger band for weeks. 🔍 Key Technical Observations: • Price consistently rejected from 20 EMA → strong supply • Lower–low & lower–high structure fully intact • Recent candle shows oversold bounce, not a trend reversal • Volume spike indicates short-covering, not fresh buying yet 📌 Edu Levels: • Immediate Resistance: ₹2,820 – ₹2,860 (20 EMA zone) • Support: ₹2,650 – ₹2,600 • Trend Pressure: Downtrend continues unless price closes above 20 EMA with strength 📈 Summary: This is a classic oversold pullback inside a strong bearish trend. Trend change confirmation will only come after a sustained close above the 20 EMA. ⚠️ Educational Purpose Only — AALGO BREATHS