Genus Power Infrastructures Limited Stock Forecast
Genus Power Infrastructures Limited stock upgraded to Strong Buy Candidate.
(Updated on May 16, 2024)
The Genus Power Infrastructures Limited stock price gained 5.00% on the last trading day (Thursday, 16th May 2024), rising from ₹297.05 to ₹311.90. 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 2.56% from a day low at ₹304.10 to a day high of ₹311.90. The price has fallen in 6 of the last 10 days but is still up by 2.38% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 710 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹415.78 million.
The stock lies in the middle of a very wide and strong 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 27.34% during the next 3 months and, with a 90% probability hold a price between ₹337.93 and ₹422.95 at the end of this 3-month period.
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GENUSPOWER.NS Signals & Forecast
The Genus Power Infrastructures 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 ₹285.75 and ₹280.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 15.73%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Genus Power Infrastructures Limited stock
Genus Power Infrastructures Limited finds support from accumulated volume at ₹301.65 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹7.80 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 3.86%.
Our recommended stop-loss: ₹299.74 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GENUSPOWER.NS) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Genus Power Infrastructures Limited to open at ₹309.30, and during the day (based on 14 day Average True Range), to move between ₹298.49 and ₹325.31, which gives a possible trading interval of +/-₹13.41 (+/-4.30%) up or down from last closing price. If Genus Power Infrastructures Limited takes out the full calculated possible swing range there will be an estimated 8.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹312.80 (0.29%) than the support at ₹301.65 (3.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Genus Power Infrastructures Limited stock A Buy?
Genus Power Infrastructures Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.886 Strong Buy Candidate Upgraded
Predicted Opening Price for Genus Power Infrastructures Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹309.30 ( 0.83%) | ₹311.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENUSPOWER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 317.10 | 1.67 % | |
| R2 | 314.12 | 0.712 % | ||
| R1 | 312.28 | 0.122 % | ||
| Current price: | 311.90 | |||
| Support | S1 | 306.32 | -1.79 % | |
| S2 | 304.48 | -2.38 % | ||
| S3 | 301.50 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 312.80 | 0.289 % | ||
| Current price | 311.90 | |||
| Support | S1 | 301.65 | -3.29% | |
| S2 | 292.95 | -6.08% | ||
| S3 | 268.60 | -13.88% |
GENUSPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | ₹0.250 | 0.294% |
| 2 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹0.500 | 0.771% |
| 3 | Sep 17, 2020 | Sep 17, 2020 | Sep 17, 2020 | ₹0.100 | 0.344% |
| 4 | Jul 25, 2019 | Aug 29, 2019 | Oct 05, 2019 | ₹0.580 | 2.60% |
| 5 | May 11, 2018 | Sep 12, 2018 | Oct 09, 2018 | ₹0.410 | 1.63% |
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