General Insurance Corporation of India Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
General Insurance Corporation of India stock price up 0.156% on Friday
(Updated on May 10, 2024)
The General Insurance Corporation of India stock price gained 0.156% on the last trading day (Friday, 10th May 2024), rising from ₹321.00 to ₹321.50. During the last trading day the stock fluctuated 2.67% from a day low at ₹316.50 to a day high of ₹324.95. The price has fallen in 7 of the last 10 days and is down by -5.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 263 thousand more shares were traded than the day before. In total, 720 thousand shares were bought and sold for approximately ₹231.41 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.12% during the next 3 months and, with a 90% probability hold a price between ₹217.43 and ₹295.15 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GICRE.NS Signals & Forecast
There are mixed signals in the stock today. The General Insurance Corporation of India stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹329.32 and ₹333.56. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 1.29%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for General Insurance Corporation of India stock
General Insurance Corporation of India finds support from accumulated volume at ₹321.00 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 ₹8.45 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: ₹303.40 (-5.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (GICRE.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect General Insurance Corporation of India to open at ₹320.98, and during the day (based on 14 day Average True Range), to move between ₹309.55 and ₹333.45, which gives a possible trading interval of +/-₹11.95 (+/-3.72%) up or down from last closing price. If General Insurance Corporation of India takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹321.00 (0.16%) than the resistance at ₹346.60 (7.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is General Insurance Corporation of India stock A Buy?
General Insurance Corporation of India holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.125 Hold/Accumulate Unchanged
Predicted Opening Price for General Insurance Corporation of India of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹320.98 ( 0.161%) | ₹321.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GICRE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 329.43 | 2.47 % | |
| R2 | 326.21 | 1.46 % | ||
| R1 | 324.21 | 0.84 % | ||
| Current price: | 321.50 | |||
| Support | S1 | 317.76 | -1.16 % | |
| S2 | 315.76 | -1.78 % | ||
| S3 | 312.53 | -2.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 360.85 | 12.24 % | |
| R2 | 353.70 | 10.02 % | ||
| R1 | 346.60 | 7.81 % | ||
| Current price | 321.50 | |||
| Support | S1 | 321.00 | -0.156% | |
| S2 | 317.40 | -1.28% | ||
| S3 | 0 | . |
GICRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | ₹7.20 | 3.20% |
| 2 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ₹2.25 | 1.85% |
| 3 | May 23, 2019 | Jul 19, 2019 | Aug 28, 2019 | ₹6.75 | 3.94% |
| 4 | May 25, 2018 | Jul 12, 2018 | Oct 05, 2018 | ₹13.50 | 4.24% |
FAQ
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