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    Momentumisers: Here’s why Godrej Properties’ has surged and key levels to watch out for

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    Momentumisers: Here’s why Godrej Properties’ has surged and key levels to watch out for

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    In early March, Godrej Properties went to Rs 1,570 and then it saw a correction of more than 15 percent. Going by the data, it appears now that the phase of correction could be over.

    In early March, Godrej Properties went to Rs 1,570 and then it saw a correction of more than 15 percent. Going by the data, it appears now that the phase of correction could be over.
    On Monday, April 26, the stock moved up 4 percent. The total volume was double of what was seen in the previous 5 trading sessions, more than 10 lakh shares were traded on the NSE and delivery volumes were a bit higher.
    So, what are the key levels to look at?
    On the downside, it took support at a 20-day moving average (DMA) at around Rs 1,300-1,350 odd mark. The 50-DMA becomes crucial and that is close to Rs 50-60 away from current levels.
    So around Rs 1,420 is a crucial level to look at on the upside and it can decisively cross that and maybe it can go to the highs seen in early March at Rs 1,570.
    Watch the video for more
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