Godfrey Phillips may hit Rs 650, says Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "The most interesting part about Godfrey Phillips is the movement of the relative strength index (RSI), if you look at the monthly charts for the first time in the last almost one and a half years, it has come back above 40. Generally when you see the monthly RSI crossing those levels of 40, you expect on the monthly charts and the momentum to be carry forward.""I expect that over the next couple of months, we could see the stock head towards the level of Rs 650, which is the first resistance level and given the fact that the RSI has bottomed from 30 and is now rising towards 40 and above, I expect the momentum to increase in the stock gradually. Target of Rs 650 is what I am indicating, keeping a stop loss of Rs 530 on it," he said.Disclosure: Analyst has no personal holdings in the stock and it is possible that he may have recommended the same stock to his clients at LKP as well.