Strategies for Godrej stocks as group likely finalises separation terms

Godrej Agrovet, Godrej Industries, Godrej Properties can potentially rally up to 10% from current levels, while Astec Life and Godrej Consumer Products can fall up to 17%, suggest charts.

Shares of Godrej Group-related companies are likely to be in focus in the near term amid buzz of that the two-factions of Godrej family - Adi Godrej and Jamshyd Godrej - had finalised the terms of separation. 

Today after a sharp rally in most group shares on Friday, stocks were seen trading on a tepid note amid weak market sentiment in the broader market.

Meanwhie, here's how the stocks from the Godrej Group are placed on charts:

Godrej Industries

Current Price: Rs 679

Upside Potential: 10%

Despite today's over 5 per cent fall, the stock is seen trading above the higher-end of the Bollinger Bands on the daily chart, which shows existence of support at Rs 665. On the upside, the stock may look to test Rs 750 levels soon. CLICK HERE FOR THE CHART

Godrej Consumer Products

Current Price: Rs 970

Downside Potential: 7%

Shares of Godrej Consumer Products are seen trading with a negative bias since late July. Presently, the stock is trading below its 20-DMA and 50-DMA placed at Rs 996and Rs 1,012. In the last three trading sessions the stock is seen quoting below its 200-DMA which stands at Rs 983. Thus, the stock is likely to face downward pressure as long as it trades below the key moving averages.

On the weekly chart scale the stock is seen testing support around its 50-WMA (Weekly Moving Average). Break and sustained trade below the same can trigger a fall towards its 100-WMA, which stands at Rs 903. CLICK HERE FOR THE CHART

Godrej Properties

Current Price: Rs 1,630

Upside Potential: 9%

Godrej Properties seems to be in a pullback mode on the long-term charts. The stock needs to sustain its near support at Rs 1,550 level. In case, the support breaks, the stock could dip towards its previous low at Rs 1,330 odd levels. On the upside, the stock face immediate resistance at Rs 1,770. CLICK HERE FOR THE CHART

Godrej Agrovet

Current Price: Rs 496

Upside Potential: 9%

Shares of Godrej Agrovet too are seen moving in a narrow band of Rs 475 to Rs 510 since mid-July. Since, momentum oscillators are in favour of the bulls, the stock may attempt an upside breakout for a target of Rs 540. CLICK HERE FOR THE CHART

Astec Lifesciences

Current Price: Rs 1,323

Downside Potential: 17%

The stock has been trading with a bearish bias since mid-December 2022, after the stock broke its 200-DMA support. Since September, the stock is seen testing its 200-DMA hurdle, but has been unable to conquer it so far despite multiple attempts. The 200-DMA presently stands at Rs 1,388.

Meanwhile, near support for the stock is seen at Rs 1,286, break and sustained trade below the same can trigger a fall towards Rs 1,100-odd levels. CLICK HERE FOR THE CHART