GODREJ INDUSTRIES – Educational Technical View
(SEBI Reg. INH000019886 | For Learning Only)
The stock has been in a strong continuous downtrend, respecting the falling 20 EMA and staying inside the lower Bollinger band for weeks.
🔍 Key Technical Observations:
• Price consistently rejected from 20 EMA → strong supply
• Lower–low & lower–high structure fully intact
• Recent candle shows oversold bounce, not a trend reversal
• Volume spike indicates short-covering, not fresh buying yet
📌 Edu Levels:
• Immediate Resistance: ₹2,820 – ₹2,860 (20 EMA zone)
• Support: ₹2,650 – ₹2,600
• Trend Pressure: Downtrend continues unless price closes above 20 EMA with strength
📈 Summary:
This is a classic oversold pullback inside a strong bearish trend. Trend change confirmation will only come after a sustained close above the 20 EMA.
⚠️ Educational Purpose Only
— AALGO BREATHS