|Sell Range||1000 – 950|
|Target||850 – 800|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||10 – 16%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|948.55||SELL||1000 – 950||850 – 800||1050||15 – 20 Trading Sessions||10 – 16%|
# CMP on May 30, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 900.
^ The returns are calculated based on CMP#
Godfrey Phillips India Limited manufactures and sells cigarettes, tobacco and chewing related products in India, Middle east, Africa, Latin America under brand names Stellar, Time 7, Business Kings, Four Square, Red & White, Cavanders, Jaisalmer, Stellar, Black Jack, and Marlboro, pan masala under the Pan Vilas and RAAG Brands. In addition, the company grows tobacco, and operates convenience stores under the Twenty Four Seven name.
|Sectoral Index||Nifty 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- On a Weekly chart, the stock has been trading with its downward sloping channel trend line since 2016 and it seems that it could continue with its ongoing move.
- Recently, we have seen the weekly price breakout from medium term downward slopping trendline.
- Overall trend and the broader pattern are bearish and any reactive pullback might be temporary. A selling from here can be a great opportunity.
TECHNICAL OBSERVATIONS (DAILY)
- Recent price has closed below the Lower Bollinger Band.
- The current price of the stock is trading below the 15 days MA.
- Significant jump in volumes add confirmation.