Godfrey Phillips India Limited Stock Forecast

Godfrey Phillips India Limited stock price down 0.84% on Wednesday
(Updated on May 29, 2024)

GODFRYPHLP.BO Signals & Forecast

The Godfrey Phillips India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹3,903.31. On a fall, the stock will find some support from the long-term average at approximately ₹3,409.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -3.60%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Godfrey Phillips India Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹3,633.75 and ₹3,450.90. 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, Godfrey Phillips India Limited finds support just below today's level at ₹3,633.75. If this is broken, then the next support from accumulated volume will be at ₹3,450.90 and ₹3,067.60.

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 ₹178.45 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 3.92%.

Our recommended stop-loss: ₹3,672.85 (-4.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 48 days ago.)

Trading Expectations (GODFRYPHLP.BO) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect Godfrey Phillips India Limited to open at ₹3,864.10, and during the day (based on 14 day Average True Range), to move between ₹3,654.93 and ₹4,046.57, which gives a possible trading interval of +/-₹195.82 (+/-5.09%) up or down from last closing price. If Godfrey Phillips India Limited takes out the full calculated possible swing range there will be an estimated 10.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹3,883.45 (0.85%) than the support at ₹3,633.75 (5.64%), 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 Godfrey Phillips India Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Godfrey Phillips India Limited stock to perform well in the short-term.

Current score: 1.709 Buy Candidate Unchanged

Predicted Opening Price for Godfrey Phillips India Limited of Thursday, May 30, 2024

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