Godrej Consumer Products| Trading near a resistance | Latest stock market news

(3 minutes read)

Stock name: Godrej Consumer Products

Pattern: Trading near a resistance

Time frame: Daily

Observation:  The stock has picked up good momentum in the recent days and is currently trading very close the resistance zone. If the stock is able to close above the said zone (975 levels), we can see good up-move in this stock. Else, sideways action can be expected.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) BEML shares to trade ex-demerger on Thursday. The company is hiving-off its land assets.

2) German Chancellor Scholz: “We will work towards bringing down the prices for energy deliveries”, amongst inflationary pressures in Euro Zone.

3) The ED on 6 September arrested Ravi Narain, the former MD and CEO of the NSE, in connection with a money laundering case related to the alleged illegal phone-tapping of NSE employees.