I bought Godrej Properties futures for ₹2,377. Shall I exit or hold or average at current level? – Palani S
Godrej Properties (₹2,304): The breakout of the resistance ₹2,260 in the first week of June was an indication that the short-term outlook has turned bullish. However, after hitting a five-month high of ₹2,506.50 on June 10, the stock has been on a decline.
Currently trading at around ₹2,300, there is a key resistance-turned-support at ₹2,260. Also, the 50-day moving average coincides at this level, making it a good base.
That said, for the stock to retain the bullish bias, it should see a rebound on the back of ₹2,260. Failure of the same and a breach of ₹2,260 can open the door for bears’ entry. In such a case, the stock can decline to ₹2,130. The downswing might even extend to ₹2,000.
But if the bulls regain traction and start pushing the stock higher from the current level of ₹2,304 it can retest ₹2,500. A clear break out of this can lift the price to ₹2,650 from where there could be another corrective decline, possibly to ₹2,500.
Futures (₹2,314): The July Godrej Properties futures has its nearest notable support at ₹2,275. This is a key level. A rebound can lift the contract to ₹2,500 and ₹2650. However, if ₹2,275 is invalidated, it can potentially lead to a fall to ₹2,150 and ₹2,000.
Broadly, the next leg of trend for futures hinges on ₹2,275.
Considering the aforesaid factors, you can hold Godrej Properties futures (Jul). However, we do not suggest adding more longs. Do maintain a stop-loss at ₹2,240. When the contract rises to ₹2,450, trail the stop-loss to ₹2,380.
Once the futures touches ₹2,500, you can choose any of the following alternatives.
One, tighten the stop-loss to ₹2,440 and hold the trade for a target of ₹2,650. Two, exit the trade at ₹2,500, wait for a decisive breakout of ₹2,500 and buy futures again. Target and stop-loss can be ₹2,650 and ₹2,440 respectively.
In both cases, when the price hits ₹2,600, revise the stop-loss up from ₹2,440 to ₹2,520.
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Published on July 5, 2025
