Godrej Cons may slip to Rs 233: Rohit Shinde

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Godrej Cons may slip to Rs 233: Rohit Shinde

Godrej Consumer Products may slip to Rs 233, says Rohit Shinde, CD Equisearch.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Rohit Shinde See what other Experts & Brokerages are saying about Godrej Consumer See messages about Godrej Consumer Godrej Consumer BSE | NSE 13/02/12 Are Mutual Funds betting on Godrej Consumer?

Godrej Consumer Products may slip to Rs 233, says Rohit Shinde , CD Equisearch.

Shinde told CNBC-TV18, "We have given a sell for Godrej Consumer Products. There is a rising wedge kind of a formation here. On the daily charts it is showing a lot of bearishness and it has made a higher top and higher bottom in the past three months also. So going ahead this is looking very weak below Rs 263 levels and it can go down as low as Rs 233 levels. We can keep stoploss at around Rs 275-280 and the current market price approximately."

Disclosure: I don't have a personal holding in any of the above stock/ sector today but may have recommended them to clients.