We will likely to see a good move in the consumer goods stocks as this sector will outperform very well.
A huge volume is seen in the stock after crossing above its 50MA in the monthly chart and maintaining that support very well. it faced resistance at 850 if it crosses above 830 and closes above on daily time frame then it can go upto 890 for long term target with the stoploss at 825. But if it starts moving downward it will first take support at 650. So kindly have a watch on this levels.
On weekly chart it is visible that It is likely to make a head and shoulder pattern. it has to make a right shoulder for that It may go downside to take support at 720-750 i.e. 20 MA from that level we can have a clear picture for upside for the target of 850.
On the daily charts it has taken support of its 100 MA but faced resistance at 830 i.e. 20 MA so if it breaks then it can upto 850.So one can make position for the upside move for that target with the stoploss at 815. Otherwise if it starts moving downward and breaks 790 then it can go upto 760 for the intraday trade.
I hope this analysis will help you for the upcoming trading session.
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