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Published on 21/06/2019 5:19:30 PM | Source: Choice Broking Pvt Ltd

Buy Godfrey Phillips India Ltd For The Target Rs.970 - Choice Broking

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

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* On a Daily chart, the stock has given a breakout of its upper band of Falling Wedge formation which is a reversal formation and signifies a bull run in the counter.

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

* Moreover, the stock is sustaining above its 50 Hourly Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 38.20 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 @ 897-892 Target 970 Stoploss 860

 

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