Sameet Chavan
Godfrey Phillips - last three months have been fantastic for this high beta counter. The daily chart depicts a series of ‘higher highs and higher lows’ and in the process, the stock process finally broke out from the trend line hurdle of 930 with some authority.
Importantly, this move was supported by humongous volumes; providing credence to the price action. Post this, the stock prices saw some consolidation but we would construe this as a good buying opportunity.
We recommend going long for a positional target of Rs 1020 in coming days. The stop loss can be placed at Rs 914.
Disclaimer: 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.
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