Godrej Consumer Products Limited Stock Forecast
Godrej Consumer Products Limited stock upgraded to Buy Candidate.
(Updated on May 22, 2024)
The Godrej Consumer Products Limited stock price gained 1.87% on the last trading day (Wednesday, 22nd May 2024), rising from ₹1,282.50 to ₹1,306.50. During the last trading day the stock fluctuated 3.27% from a day low at ₹1,285.00 to a day high of ₹1,327.05. The price has fallen in 6 of the last 10 days and is down by -1.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately ₹30.98 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.24% during the next 3 months and, with a 90% probability hold a price between ₹1,234.81 and ₹1,417.06 at the end of this 3-month period.
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GODREJCP.BO Signals & Forecast
Mostly positive signals in the chart today. The Godrej Consumer Products 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 ₹1,303.48 and ₹1,241.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 1.87%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Godrej Consumer Products Limited stock
Godrej Consumer Products Limited finds support from accumulated volume at ₹1,250.75 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 ₹42.05 between high and low, or 3.27%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: ₹1,237.67 (-5.27%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (GODREJCP.BO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Godrej Consumer Products Limited to open at ₹1,306.18, and during the day (based on 14 day Average True Range), to move between ₹1,270.30 and ₹1,342.70, which gives a possible trading interval of +/-₹36.20 (+/-2.77%) up or down from last closing price. If Godrej Consumer Products Limited takes out the full calculated possible swing range there will be an estimated 5.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,322.05 (1.19%) than the support at ₹1,250.75 (4.27%), 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 Godrej Consumer Products 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 Godrej Consumer Products Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.598 Buy Candidate Upgraded
Predicted Opening Price for Godrej Consumer Products Limited of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₹1,306.18 ( 0.0242%) | ₹1,306.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GODREJCP.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,348.23 | 3.19 % | |
| R2 | 1,332.17 | 1.96 % | ||
| R1 | 1,322.25 | 1.21 % | ||
| Current price: | 1,306.50 | |||
| Support | S1 | 1,290.12 | -1.25 % | |
| S2 | 1,280.20 | -2.01 % | ||
| S3 | 1,264.13 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,350.40 | 3.36 % | |
| R2 | 1,330.85 | 1.86 % | ||
| R1 | 1,322.05 | 1.19 % | ||
| Current price | 1,306.50 | |||
| Support | S1 | 1,250.75 | -4.27% | |
| S2 | 1,210.55 | -7.34% | ||
| S3 | 1,162.50 | -11.02% |
GODREJCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 05, 2024 | ₹10.00 | 0.765% |
| 2 | Nov 09, 2023 | Nov 09, 2023 | Dec 01, 2023 | ₹5.00 | 0.488% |
| 3 | Feb 05, 2020 | Feb 05, 2020 | Feb 18, 2020 | ₹2.00 | 0.322% |
| 4 | May 15, 2018 | May 15, 2018 | May 30, 2018 | ₹7.00 | 0.93% |
| 5 | Feb 06, 2018 | Feb 06, 2018 | Feb 21, 2018 | ₹0.667 | 0.0949% |
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