Godrej Industries Limited Stock Forecast
Weaker technical forecast for Godrej Industries Limited as stock downgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The Godrej Industries Limited stock price fell by -1.03% on the last day (Friday, 14th Jun 2024) from ₹834.45 to ₹825.85. During the last trading day the stock fluctuated 4.35% from a day low at ₹821.25 to a day high of ₹857.00. The price has risen in 6 of the last 10 days and is up by 4.97% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -414 thousand shares and in total, 363 thousand shares were bought and sold for approximately ₹299.43 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹791.77 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.18% during the next 3 months and, with a 90% probability hold a price between ₹816.98 and ₹1,007.77 at the end of this 3-month period.
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GODREJIND.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 4.97%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Godrej Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹831.45. On a fall, the stock will find some support from the short-term average at ₹812.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Godrej Industries Limited stock
Godrej Industries Limited finds support from accumulated volume at ₹820.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹35.75 (4.35%) between high and low. For the last week, the stock has had daily average volatility of 2.92%.
Our recommended stop-loss: ₹784.99 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (GODREJIND.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Godrej Industries Limited to open at ₹834.70, and during the day (based on 14 day Average True Range), to move between ₹795.44 and ₹856.26, which gives a possible trading interval of +/-₹30.41 (+/-3.68%) up or down from last closing price. If Godrej Industries Limited takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹820.85 (0.61%) than the resistance at ₹868.75 (5.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Godrej Industries Limited stock A Buy?
Godrej Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.373 Hold/Accumulate Downgraded
Predicted Opening Price for Godrej Industries Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹834.70 ( 1.07%) | ₹825.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GODREJIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 870.45 | 5.40% |
| R2 | 856.79 | 3.75% |
| R1 | 848.36 | 2.73% |
| Price | 825.85 | |
| S1 | 821.04 | -0.582% |
| S2 | 812.61 | -1.60% |
| S3 | 798.95 | -3.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 960.60 | 16.32% |
| R2 | 894.15 | 8.27% |
| R1 | 868.75 | 5.19% |
| Price | 825.85 | |
| S1 | 820.85 | -0.605% |
| S2 | 793.15 | -3.96% |
| S3 | 790.65 | -4.26% |
GODREJIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 02, 2019 | Aug 02, 2019 | Aug 02, 2019 | ₹1.15 | 0.258% |
| 2 | Aug 02, 2018 | Aug 02, 2018 | Aug 02, 2018 | ₹1.75 | 0.277% |
| 3 | May 22, 2017 | Aug 02, 2017 | Sep 11, 2017 | ₹1.75 | 0.277% |
| 4 | Mar 02, 2016 | Mar 15, 2016 | Mar 30, 2016 | ₹1.75 | 0.484% |
| 5 | May 27, 2015 | Jul 31, 2015 | Sep 07, 2015 | ₹1.75 | 0.480% |
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