Gujarat Industries Power Company Limited Stock Forecast
Green day on Friday for Gujarat Industries Power Company Limited
(Updated on May 10, 2024)
The Gujarat Industries Power Company Limited stock price gained 2.03% on the last trading day (Friday, 10th May 2024), rising from ₹172.25 to ₹175.75. During the last trading day the stock fluctuated 4.62% from a day low at ₹168.70 to a day high of ₹176.50. The price has fallen in 5 of the last 10 days and is down by -7.33% for this period. Volume fell on the last day by -72 thousand shares and in total, 215 thousand shares were bought and sold for approximately ₹37.79 million. 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 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 -3.92% during the next 3 months and, with a 90% probability hold a price between ₹144.45 and ₹183.34 at the end of this 3-month period.
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GIPCL.NS Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gujarat Industries Power Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹181.83 and ₹180.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -8.27%. 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).
Support, Risk & Stop-loss for Gujarat Industries Power Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹161.65 and ₹161.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gujarat Industries Power Company Limited finds support just below today's level at ₹161.65. If this is broken, then the next support from accumulated volume will be at ₹161.60 and ₹155.40.
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 4.62%. For the last week, the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIPCL.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Gujarat Industries Power Company Limited to open at ₹173.65, and during the day (based on 14 day Average True Range), to move between ₹169.05 and ₹182.45, which gives a possible trading interval of +/-₹6.70 (+/-3.81%) up or down from last closing price. If Gujarat Industries Power Company Limited takes out the full calculated possible swing range there will be an estimated 7.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹186.20 (5.95%) than the support at ₹161.65 (8.02%), 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 Gujarat Industries Power Company Limited stock A Buy?
Gujarat Industries Power Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.038 Sell Candidate Unchanged
Predicted Opening Price for Gujarat Industries Power Company Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹173.65 ( 1.19%) | ₹175.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIPCL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 181.45 | 3.24 % | |
| R2 | 178.47 | 1.55 % | ||
| R1 | 176.63 | 0.500 % | ||
| Current price: | 175.75 | |||
| Support | S1 | 170.67 | -2.89 % | |
| S2 | 168.83 | -3.94 % | ||
| S3 | 165.85 | -5.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 193.55 | 10.13 % | |
| R2 | 189.65 | 7.91 % | ||
| R1 | 186.20 | 5.95 % | ||
| Current price | 175.75 | |||
| Support | S1 | 161.65 | -8.02% | |
| S2 | 161.60 | -8.05% | ||
| S3 | 155.40 | -11.58% |
GIPCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 2022 | Sep 14, 2022 | Sep 14, 2022 | ₹2.50 | 2.67% |
| 2 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹2.70 | 3.24% |
| 3 | Dec 03, 2020 | Dec 03, 2020 | Dec 03, 2020 | ₹2.90 | 3.66% |
| 4 | May 17, 2019 | Aug 28, 2019 | Sep 24, 2019 | ₹2.90 | 4.06% |
| 5 | May 24, 2018 | Sep 05, 2018 | Oct 27, 2018 | ₹2.70 | 3.68% |
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