G.K. Consultants Limited Stock Forecast

G.K. Consultants Limited stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)

GKCONS.BO Signals & Forecast

Mostly positive signals in the chart today. The G.K. Consultants 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 ₹15.83 and ₹14.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 35.35%. 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). G.K. Consultants Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for G.K. Consultants Limited stock

G.K. Consultants Limited finds support from accumulated volume at ₹16.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.18%.

The G.K. Consultants Limited stock is extremely overbought on RSI14 (88). This increases the short-term risk substantially. Since the G.K. Consultants Limited has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹16.23 (-3.24%) (This stock has high daily movements and this gives high risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (GKCONS.BO) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect G.K. Consultants Limited to open at ₹16.77, and during the day (based on 14 day Average True Range), to move between ₹16.33 and ₹17.21, which gives a possible trading interval of +/-₹0.436 (+/-2.60%) up or down from last closing price. If G.K. Consultants Limited takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹16.20, some ₹0.570 (3.40%) from the current price of ₹16.77, our system finds the risk reward attractive.

Is G.K. Consultants Limited stock A Buy?

G.K. Consultants 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: 6.250 Strong Buy Candidate Upgraded

Predicted Opening Price for G.K. Consultants Limited of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.