Godfrey Phillips India Limited (GODFRYPHLP) Stock Price Target Analysis for Tomorrow

Trade: Enter a SELL position when the stock reaches ₹2,775.33.

Target: Keep target price at ₹2,748.67.

Rationale: This strategy aims to capture the early morning pullback move towards the mean value.

When to Avoid:

• • Keep Stop Loss above 2,775.33 (5 min candle closing basis).
• • Avoid when risk to reward is not favorable.

Trade: Initiate a BUY position when the first candle (5 min) closes above 2,775.33

Target: Aim for the first target of 2,818.37 later, trail up to 2,845.03.

Rationale: GODFRYPHLP opening above Resistance (2,775.33) suggests a strong bullish sentiment. This way, traders can gain the advantage of a possible upmove.

When to Avoid:

• • Remember to keep SL below 2,775.33.
• • Do not trade this strategy if the stock is in a downtrend in the last 3 days.

Trade: Place a BUY order at ₹2,705.63.

Target: Place an exit order at ₹2,748.67 making it an intraday target.

Rationale: If GODFRYPHLP does not make a low below its previous low, the trend may still be higher highs on the daily timeframe. This presents us with a Buy opportunity once the price retraces downside near its support.

When to Avoid:

• • Place SL below support 2,705.63.
• • Do not trade this when close and low price are close to each other, or if the market is negative.

Trade: Enter a SELL position in GODFRYPHLP when it finds resistance near 2,748.67.

Target: Aim for a minimum 1:1 risk-reward and keep a target of 2,705.63. Accuracy is better if this happens after 10:15 AM.

Rationale: Breaking below previous day low signifies bearish pressure. In case the stock retraces upside, it may present traders with a good opportunity to open a new sell position to gain benefit from the bearishness in stock.

When to Avoid:

• • Exit if the stock closes above 2,748.67.
• • Avoid selling when it's trading near a major support area.

Additional Note: If the trend is bullish on a higher timeframe, it is suggested to enter a long position instead when the share price reaches 2,705.63.

Action: If price action is weak and the stock is making lows, traders can consider creating a (Sell) entry once the mean value 2,748.67 is broken.

Target: Aim for a target up to the previous day's low of 2722 and after achieving TP1, extend targets further up to 2,775.33.

Rationale: This strategy leverages the bearish trend continuation after an initial flat opening.

Action: If GODFRYPHLP starts the day on a bullish note, its targets will be 2,775.33 and 2,818.37.

Rationale: Using this intraday strategy, traders can capitalize on the bullish momentum.

When to Avoid:

• • Keep SL below 2,748.67 on a candle closing basis (exit when a 5-minute candle closes below pivot).
• • Avoid this trade if the previous day was in a downtrend.