Technical Analysis Godrej Consumer Products Limited.

The stock $GODREJCP is currently trading at 1027.50. Looking at the daily chart the broader trend over the last few months has been downward. After touching highs near the 1300 level the stock has formed a pattern of lower highs and lower lows. This indicates that sellers have generally been in control of the trend recently. Support the most crucial support area is between 975 and 1000. The stock recently found buyers and bounced up from this zone. This makes 1000 a strong psychological and technical base. If the price falls and closes below this level it could signal further weakness. Resistance the immediate hurdle on the way up is around the 1125 to 1150 mark. The stock recently tried to climb back up but faced selling pressure here. A secondary much stronger resistance is sitting near the 1200 level. Short-term buyers it is best to wait for a confirmed breakout above the 1125 resistance level before taking fresh entries or cautiously buy near the 1000 support with a strict stop-loss. Current holders should maintain their positions as long as the stock respects the crucial 975-1000 support zone to avoid unnecessary risk. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.