Gujarat Narmada Valley Fertilizers & Stock Forecast
Gujarat Narmada Valley Fertilizers & stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Gujarat Narmada Valley Fertilizers & stock price gained 1.45% on the last trading day (Friday, 26th Apr 2024), rising from ₹709.15 to ₹719.45. During the last trading day the stock fluctuated 2.36% from a day low at ₹712.05 to a day high of ₹728.85. The price has risen in 7 of the last 10 days and is up by 3.7% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹1.63 billion.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹738.85 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Gujarat Narmada Valley Fertilizers & stock with a 90% probability to be traded between ₹581.54 and ₹726.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GNFC.NS Signals & Forecast
The Gujarat Narmada Valley Fertilizers & 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 ₹695.85 and ₹658.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 20.30%. 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 Gujarat Narmada Valley Fertilizers & stock
Gujarat Narmada Valley Fertilizers & finds support from accumulated volume at ₹691.85 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 ₹16.80 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: ₹691.39 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (GNFC.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Gujarat Narmada Valley Fertilizers & Chemicals Limited to open at ₹720.12, and during the day (based on 14 day Average True Range), to move between ₹699.46 and ₹739.44, which gives a possible trading interval of +/-₹19.99 (+/-2.78%) up or down from last closing price. If Gujarat Narmada Valley Fertilizers & Chemicals Limited takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹732.70 (1.84%) than the support at ₹691.85 (3.84%), 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 Narmada Valley Fertilizers & Chemicals Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Gujarat Narmada Valley Fertilizers & stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.008 Buy Candidate Upgraded
Predicted Opening Price for Gujarat Narmada Valley Fertilizers & Chemicals Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹720.12 ( 0.0927%) | ₹719.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNFC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 736.92 | 2.43 % | |
| R2 | 730.50 | 1.54 % | ||
| R1 | 726.53 | 0.98 % | ||
| Current price: | 719.45 | |||
| Support | S1 | 713.70 | -0.799 % | |
| S2 | 709.73 | -1.35 % | ||
| S3 | 703.32 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 751.85 | 4.50 % | |
| R2 | 738.25 | 2.61 % | ||
| R1 | 732.70 | 1.84 % | ||
| Current price | 719.45 | |||
| Support | S1 | 691.85 | -3.84% | |
| S2 | 685.05 | -4.78% | ||
| S3 | 640.55 | -10.97% |
GNFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹10.00 | 1.45% |
| 2 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹8.00 | 2.30% |
| 3 | Aug 20, 2020 | Aug 20, 2020 | Aug 20, 2020 | ₹5.00 | 2.73% |
| 4 | May 29, 2019 | Aug 22, 2019 | Oct 04, 2019 | ₹7.00 | 3.57% |
| 5 | Apr 23, 2018 | Aug 23, 2018 | Oct 08, 2018 | ₹7.50 | 2.31% |
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