Shrikant Chouhan, Kotak Securities is of the view that Godrej Industries has resistance at Rs 160-165. On the daily and weekly charts, this stock is forming a saucer formation and maybe in coming few weeks it will see levels of max Rs 200 on the higher side.
Chouhan told CNBC-TV18, "Godrej Industries is out of realty pack and right now its at upper circuit at Rs 130 but between Rs 120 and Rs 130, the stock is having very good support. If you look at the overall formation of this particular stock on the daily and weekly charts, then I can say that this stock is forming a saucer formation and maybe in coming few weeks we are going to see levels of max Rs 200 on the higher side but the immediate resistance is somewhere around Rs 160-165."
Disclosure: Analyst doesn't hold the above stock but he is recommending the stock on a very frequent basis.
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Economy turning for sure but cant say for mkts: DSP