Building long position in Godrej CP
Tranche 1 of 67 shares @ 753
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Currently lower lows (market in decline stage) | for me this is a good time to start building position
2. Is there any trend reversal in play?
1. Currently no... price in decline despite having a fair Q3 result
2. At important support or resistance - horizontal - Yes brought at correction up to 200 EMA weekly
3. At important confluence of EMAs + price + support - Yes - Weekly 200 EMA
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - Lower Lows
4. Is there any trend continuation in play?
Yes, the lower trend looks to continue... would add more 650 level
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No, breaking down
6. Fundamental factors in play
1. EPS growing quarterly and yearly due to revenue growth... PE is lowest compared to EPS growth since Dec 2020
2. Are institutional investors/promotors increasing their stake - Slight decrease in FII but lapped up by DII and some by public
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Currently lower lows (market in decline stage) | for me this is a good time to start building position
2. Is there any trend reversal in play?
1. Currently no... price in decline despite having a fair Q3 result
2. At important support or resistance - horizontal - Yes brought at correction up to 200 EMA weekly
3. At important confluence of EMAs + price + support - Yes - Weekly 200 EMA
3. How are the candlesticks behaving and what is the volume doing
Candlesticks - Lower Lows
4. Is there any trend continuation in play?
Yes, the lower trend looks to continue... would add more 650 level
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No, breaking down
6. Fundamental factors in play
1. EPS growing quarterly and yearly due to revenue growth... PE is lowest compared to EPS growth since Dec 2020
2. Are institutional investors/promotors increasing their stake - Slight decrease in FII but lapped up by DII and some by public
Note
Tranche 2 of 37 shares at 665Trade fermée manuellement
Trade closed by selling 104 shares at 825 @ 14% profit
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.