[Premium] Trade Of The Week

JC Parets
August 22, 2021

This week we’re looking for a long setup in the Consumer Goods Sector. FMCG is a defensive sector and tends to outperform the market in a broadly weak environment.

Let's take a look at this name.

Today we will share one such idea that stands out from a risk-reward perspective.

Godrej Consumer Products has been gaining from strength to strength. In the week gone by, we witnessed a base breakout in this particular stock. The price moved past the level of 978 and broke out of a 3-year base. With this move, the indicator too is in the bullish momentum territory adding conviction to the setup.

We are bullish above the risk management level of 978, with a target near 1,320.

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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