Godfrey Phillips India Limited (GODFRYPHLP) Stock - Complete Technical Analysis - Nov 11, 2024

Godfrey Phillips India (GODFRYPHLP) Stock Analysis Technical Indicators & Support/Resistance Leve

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 currently trading at 6636.15, showing strong fluctuations in recent days. On November 11, the stock exhibited a Doji and Spinning Top pattern, suggesting indecision, which could lead to a price reversal or continuation within a range. The stock has found support at 6648, and any movement below this level could push the price towards the 6500 range, indicating the potential for a deeper correction.

Resistance is visible in the 7200-7400 range, where the stock has struggled to break through. The technical indicators, such as RSI and MACD, show neutral momentum with no clear overbought or oversold conditions, indicating that the stock is consolidating. The ADX value is moderate, signaling that the stock is not currently in a strong trend.

Investors should keep an eye on the price movement around 6648 to 6500 for further confirmation of trend direction. If the stock breaks past 7400, it could enter a bullish phase, but a breach below 6500 could see further downside risk. A cautious approach is advised with the current market uncertainty.