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Published on 4/07/2019 4:59:00 PM | Source: Choice Broking Pvt Ltd

Buy Godfrey Phillips India Ltd For The Target Rs.895 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Godfrey Phillips India Ltd #Trading Report #cigarettes #Choice Broking

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* On an hourly scale, the stock is sustaining above its 50 Hourly Exponential Moving Average which suggests strength in the counter.

* Moreover, a sudden spurt in the volume has been witnessed during trading session which indicates an accentuate buying in the counter.

* On a daily chart, the stock has bounced back after taking a support of its upward Rising trendline which indicates that the stock may go up in coming trading sessions.

* A daily momentum indicator RSI reading is at 35.91 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Godfrey Phillips India Ltd @ 838-833 Stoploss 810 TGT 895

 

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