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The stock of Godrej Industries has been uptrend since last week of November. The strong 3.4 per cent rise on Wednesday has taken the stock well above the 200-Day Moving Average which is currently at ₹460. This has strengthened the uptrend and indicates that more rise is in the cards now. Strong support is in the ₹465-₹460 region. Any dips can be limited to this support zone.
Godrej Industries can rally at ₹505-₹510 over the next two-three weeks. Traders can go long now. Accumulate on dips at ₹468. Keep the stop-loss at ₹457. Trail the stop-loss up to ₹482 when the stock touches ₹495 on the upside. Move the stop-loss further up to ₹493 when Godrej Industries rises up to ₹498. Book profits at ₹505.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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