Buy Godfrey Phillips, target Rs 1070: Rajesh Palviya

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26 Aug, 2025 12:21

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Rajesh PalviyaAxis Securities

With current week's strong gains Godfrey Phillips India has decisively broken out its “Down Sloping Trendline” breakout at 860 levels on the closing basis. The stock price has also formed a rounding bottom pattern which indicates a positive bias in the near-term.

This breakout is accompanied with rising volumes which supports bullish sentiments ahead. The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in the positive terrain which supports upside momentum to continue in the near term.

The stock is well placed above its 20, 50 and 100 day SMA which supports bullish sentiments ahead. It can be bought in the range of Rs 985-975.

Disclaimer: The author is Head, Technical and Derivatives at Axis Securities. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.