Godfrey Phillips India Limited (GODFRYPHLP) Stock - Complete Technical Analysis - Sep 19, 2024

Godfrey Phillips Stock Analysis: Bullish Trends & Key Support/Resistance Levels September 2024

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Godfrey Phillips India Limited (GODFRYPHLP) is trading at 7778, which is 8.28% below its 52-week high of 8480 and 290.42% above its 52-week low of 1992.

The technical indicators suggest a strong bullish trend. The RSI is in the upper range, indicating that the stock is in an overbought condition. The Stochastic %K is also high, reflecting a strong upward momentum. Additionally, the MACD is significantly positive, and the Commodity Channel Index supports this with its high value, suggesting continued buying interest. The Awesome Oscillator and Bull Bear Power both reinforce this bullish sentiment.

The ADX is very high, indicating a strong trend, while the Ultimate Oscillator also supports the strength of the current uptrend. Despite this bullish outlook, the stock is currently in a consolidation phase, as evidenced by the recent Inside Candle pattern with a range between 7400 and 8480.

For trading strategy, key support levels are seen around 7400 and 7000, while resistance levels are near 8000 and 8500. Traders should monitor these levels closely and be prepared for potential breakout or reversal patterns.