Garware Marine Industries Limited Stock Forecast
Green day on Friday for Garware Marine Industries Limited
(Updated on May 03, 2024)
The Garware Marine Industries Limited stock price gained 4.94% on the last trading day (Friday, 3rd May 2024), rising from ₹11.95 to ₹12.54. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.79% from a day low at ₹12.20 to a day high of ₹12.54. The price has risen in 6 of the last 10 days and is up by 9.62% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹39.81 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.80% during the next 3 months and, with a 90% probability hold a price between ₹10.76 and ₹15.59 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GARWAMAR.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, February 22, 2024, and so far it has fallen -8.13%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Garware Marine Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹11.80 and ₹11.60. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Garware Marine Industries Limited stock
Garware Marine Industries Limited finds support from accumulated volume at ₹12.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.340 between high and low, or 2.79%. For the last week the stock has had daily average volatility of 6.02%.
Our recommended stop-loss: ₹11.87 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (GARWAMAR.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Garware Marine Industries Limited to open at ₹12.43, and during the day (based on 14 day Average True Range), to move between ₹11.68 and ₹13.40, which gives a possible trading interval of +/-₹0.86 (+/-6.87%) up or down from last closing price. If Garware Marine Industries Limited takes out the full calculated possible swing range there will be an estimated 13.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹12.40 (1.12%) than the resistance at ₹12.72 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Garware Marine Industries Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Garware Marine Industries Limited stock to perform well in the short-term.
Current score: 3.259 Buy Candidate Unchanged
Predicted Opening Price for Garware Marine Industries Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹12.43 ( 0.90%) | ₹12.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GARWAMAR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.77 | 1.81 % | |
| R2 | 12.64 | 0.772 % | ||
| R1 | 12.56 | 0.132 % | ||
| Current price: | 12.54 | |||
| Support | S1 | 12.30 | -1.94 % | |
| S2 | 12.22 | -2.58 % | ||
| S3 | 12.09 | -3.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.65 | 8.85 % | |
| R2 | 13.22 | 5.42 % | ||
| R1 | 12.72 | 1.44 % | ||
| Current price | 12.54 | |||
| Support | S1 | 12.40 | -1.12% | |
| S2 | 12.37 | -1.36% | ||
| S3 | 10.61 | -15.39% |
GARWAMAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2011 | Dec 20, 2011 | Dec 20, 2011 | ₹0.500 | 4.67% |
| 2 | Dec 21, 2010 | Dec 21, 2010 | Dec 21, 2010 | ₹0.500 | 2.80% |
| 3 | Dec 18, 2009 | Dec 18, 2009 | Dec 18, 2009 | ₹0.500 | 3.19% |
| 4 | Dec 19, 2008 | Dec 19, 2008 | Dec 19, 2008 | ₹0.500 | 4.76% |
| 5 | Dec 24, 2007 | Dec 24, 2007 | Dec 24, 2007 | ₹0.500 | 1.51% |
FAQ
Click here for our free guide on how to buy Garware Marine Industries Limited Stock.
