Gillette India Limited Stock Forecast
Weaker technical forecast for Gillette India Limited as stock downgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Gillette India Limited stock price fell by -0.104% on the last day (Friday, 31st May 2024) from ₹7,146.15 to ₹7,138.70. During the last trading day the stock fluctuated 2.54% from a day low at ₹7,070.25 to a day high of ₹7,250.00. The price has risen in 5 of the last 10 days and is up by 3.85% over the past 2 weeks. Volume has increased on the last day by 143 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 169 thousand shares were bought and sold for approximately ₹1.21 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹7,154.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.56% during the next 3 months and, with a 90% probability hold a price between ₹6,892.78 and ₹7,695.38 at the end of this 3-month period.
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GILLETTE.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -0.104%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Gillette India 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 ₹7,034.15 and ₹6,712.21. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Gillette India Limited stock
Gillette India Limited finds support from accumulated volume at ₹6,967.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹179.75 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 3.71%.
Our recommended stop-loss: ₹6,936.50 (-2.83%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (GILLETTE.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Gillette India Limited to open at ₹7,152.98, and during the day (based on 14 day Average True Range), to move between ₹6,936.44 and ₹7,340.96, which gives a possible trading interval of +/-₹202.26 (+/-2.83%) up or down from last closing price. If Gillette India Limited takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹7,146.15 (0.10%) than the support at ₹6,967.90 (2.39%), 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 Gillette India Limited stock A Buy?
Gillette India Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.370 Hold/Accumulate Downgraded
Predicted Opening Price for Gillette India Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹7,152.98 ( 0.200%) | ₹7,138.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GILLETTE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,332.73 | 2.72 % | |
| R2 | 7,264.07 | 1.76 % | ||
| R1 | 7,221.65 | 1.16 % | ||
| Current price: | 7,138.70 | |||
| Support | S1 | 7,084.32 | -0.762 % | |
| S2 | 7,041.90 | -1.36 % | ||
| S3 | 6,973.23 | -2.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 7,146.15 | 0.104 % | ||
| Current price | 7,138.70 | |||
| Support | S1 | 6,967.90 | -2.39% | |
| S2 | 6,802.75 | -4.71% | ||
| S3 | 6,667.90 | -6.60% |
GILLETTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 08, 2024 | Feb 28, 2024 | ₹85.00 | 1.31% |
| 2 | Feb 09, 2023 | Feb 09, 2023 | Feb 09, 2023 | ₹35.00 | 0.715% |
| 3 | Nov 10, 2022 | Nov 10, 2022 | Nov 10, 2022 | ₹36.00 | 0.691% |
| 4 | Feb 09, 2022 | Feb 09, 2022 | Feb 09, 2022 | ₹33.00 | 0.647% |
| 5 | Nov 16, 2021 | Nov 16, 2021 | Nov 16, 2021 | ₹36.00 | 0.640% |
FAQ
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