Godrej Consumer Products Limited (GODREJCP) Stock - Complete Technical Analysis - Sep 03, 2024

Godrej Consumer Products Technical Analysis: Key Support, Resistance,

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Let's dive into the technical analysis for Godrej Consumer Products Limited (GODREJCP). The stock is currently trading at 1,461.

Support and Resistance Levels: The major support levels for GODREJCP are around 1,389.9 and 1,298.6. If the stock faces downward pressure, these levels could act as critical points where buying interest might emerge. On the resistance side, key levels are seen at 1,540.75 and 1,600.3. Should the stock move upwards, these levels may pose challenges for further gains.

Moving Averages: The stock is currently above its short-term and long-term moving averages, which suggests a bullish trend. The 10-day EMA is at 1,456.56, and the 200-day EMA stands at 1,282.83. The short-term averages like the 10-day SMA are at 1,453.72, while the 50-day SMA is at 1,433.69. The stock is trading above these levels, indicating a positive momentum.

Technical Indicators:

MACD is showing a positive level, indicating upward momentum.

RSI is near the midline at 54.16, suggesting a neutral market with no overbought or oversold conditions.

Stochastic Oscillator is in the higher range at 79.35, signaling that the stock might be in the overbought territory.

ADX is at 21.99, reflecting a moderate trend strength.

Chart Patterns: The stock's recent price action suggests a consolidation phase. The stock's current price is testing its recent highs, and a breakout above the resistance levels could signal a continuation of the uptrend. Conversely, failure to hold above the support levels might lead to a retracement.

Other Observations: The Awesome Oscillator is positive, suggesting bullish momentum, while the Williams Percent Range is at -27.64, indicating a potential overbought condition. The Ultimate Oscillator is at 59.48, showing a bullish outlook. Bull Bear Power is also positive, indicating buying pressure.

In summary, GODREJCP shows a generally positive technical outlook with support levels potentially providing a buffer against declines and resistance levels being crucial for further gains. The indicators suggest a bullish trend with some caution as the stock approaches overbought levels.