We have been tracking all sectors . We were looking weakness and relative weakness in FMCG sector over last few months.
We are looking for shorting opportunity in Godrej Consumer. Lets look at performance of Godrej consumer relative to FMCG Sector. It is underperforming whole sector from last 1 year. Does this underperformance will keep continue ? Its looks yes until we have evidence of outperforming.
If look at daily chart it is taking support at 625-630 multiple time, this time it looks like that supply is more compare to demand in Godrej consumer. Looks like if we break 630-625 on closing basis then Would like to short for tgt 510-480 Risk:reward seems favourable.
Looks like weakness across market and downward sloping moving average looks we will break 630-625 and move towards more downside. Remember will like to short below 630-625 only. Sometime trade does not work straight Above 634 we will not like to hold shorts whenever it close above.
As Risk is well defined & Reward seems good enough to take such trades.
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