Godfrey Phillips slips after Q2, bear flag forms

Godfrey Phillips India shares fell 0.22% to Rs 1,790 on 6 Nov 2026 after Q2 profit dropped 37.7%. Resistance is at 1,832 and support at 1,723. Godfrey Phillips India Limited [ GODFRYPHLP] shares ended 0.22% lower at Rs 1,790 on 6 November 2026, after its Q2 consolidated results. The stock opened at Rs 1,725, rose to a high of Rs 1,806 and held a low of Rs 1,723 before settling marginally below the previous close. Consolidated profit sank 37.7% year on year to Rs 189.9 crore, against Rs 305 crore. Revenue rose 4.1% to Rs 1,342.2 crore from Rs 1,289 crore. Sales growth did not carry through to earnings, which is the weak spot in the numbers. On the daily chart, the stock has been in a steady downtrend since the September 2025 peak, with a sharp fall from the August high near 2,400 to the recent low. Since then price has moved sideways in a small, upward-sloping range just under 1,832, a former support that now acts as resistance. This is a bearish flag: a sharp fall (the pole) followed by a small rising consolidation (the flag), which often leads to another leg down once the flag breaks to the downside. Volume was 406.56K shares, and RSI(14) at 48.68 has recovered from oversold levels but is still below the midline trend. In my view, the trend remains bearish while price stays below 1,832. A break below the day’s low of 1,723 would complete the flag and bring a fresh leg down into focus. A sustained close above 1,832 would invalidate the pattern and ease the pressure. Stance: bearish below 1,832, with 1,723 as key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.