LONG TERM PICK: Godrej Industries has made a rounding bottom formation. It can be bought at the current level of 300 for target of 1100. Time frame is 2 years. Keep a stop loss of 220.
Firstly look at the time frame - its 2 years - which is a long time. Secondly whenever we have a rounding bottom formation its target is usually 5 times the current price..... thats why such an aggressive target! :-)
Ashwini,
ReplyDeleteWish you a Happy diwali! This is the most aggressive and bold target I have seen on Godrej Ind.
Thanks. Wish you a happy Diwali too!
ReplyDeleteFirstly look at the time frame - its 2 years - which is a long time. Secondly whenever we have a rounding bottom formation its target is usually 5 times the current price..... thats why such an aggressive target! :-)