Godrej Consumer Products - On High Selling Pressure (Sell)

31 Ağu 2016

It is been observed that in the range of 1550-1565, there is a high selling pressure that takes the prices down to lower levels. Today price action showed tremendous weakness at that range level that formed a long red candlestick with a upper wick showed price rejection on higher levels. I would recommend shorting it for a while until the price action breaks above the 1565 level.

Target: 1480
Stoploss: 1585