NSE GODRAGPROP’s Strong Momentum: Analysis and Forecast
The NSE GODREJPROP has been undergoing a correction phase for over 75 weeks, characterized as a double three correction in technical analysis. The current market price is hovering in close proximity to the 200-day exponential moving average.
The ongoing correction is identified as a double three pattern consisting of two sets of a-b-c corrections, which have merged to form the intermediate wave (X). The price has completed the final wave V of the ending diagonal pattern within wave C of wave (Y). The conclusion of wave C has generated significant momentum for the current movement, resulting in a 17% increase over two trading sessions.
NSE GODFRYPHLP – Taking Advantage of Bearish Momentum
NSE’s GODFRYPHLP is currently undergoing a correction structure following a decline from its previous high of 2149. The price has already broken below the previous support level of 1755, indicating a potential opportunity for day traders until the price reaches the next support.
The Relative Strength Index (RSI) of the price is declining rapidly, adding further confirmation to a potential downtrend. If the price continues to sustain below 1747, traders can consider selling for the following targets: +.
Is INDIANB on The Verge Of Bearish Reversal?
On the daily timeframe chart, NSE INDIANB appears weak. The price attempted to form a new high but ended up becoming a corrective structure. The price angle and structure, however, still appear Bearish market structure.
Traders can sell if the price sustains below 285, with targets at +.
NSE GILLETTE – Bottom Fishing
In the previous trading session, NSE’s GILLETTE recorded a strong close, and the daily Relative Strength Index (RSI) increased from 34 to 41.84. The price held steady at the previous support zone of 4150, indicating a potential rebound.
Traders can look for trading opportunities if the price continues to sustain above 4320. The suggested targets for traders are +.