Godrej Properties Limited Stock Forecast
Godrej Properties Limited stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Godrej Properties Limited stock price gained 4.41% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹3,161.65 to ₹3,301.10. During the last trading day the stock fluctuated 5.32% from a day low at ₹3,171.10 to a day high of ₹3,339.95. The price has been going up and down for this period, and there has been a 6.87% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 919 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹6.58 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹3,157.91, a level that may pose a second chance to hit a runner. According to fan-theory ₹3,548.37 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GODREJPROP.NS Signals & Forecast
Mostly positive signals in the chart today. The Godrej Properties 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 ₹3,148.04 and ₹2,912.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 27.75%. 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 Properties Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2,842.75 and ₹2,704.50. 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, Godrej Properties Limited finds support just below today's level at ₹2,842.75. If this is broken, then the next support from accumulated volume will be at ₹2,704.50 and ₹2,588.60.
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 ₹168.85 between high and low, or 5.32%. For the last week, the stock has had daily average volatility of 3.78%.
Our recommended stop-loss: ₹3,119.54 (-5.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (GODREJPROP.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Godrej Properties Limited to open at ₹3,270.72, and during the day (based on 14 day Average True Range), to move between ₹3,185.12 and ₹3,417.08, which gives a possible trading interval of +/-₹115.98 (+/-3.51%) up or down from last closing price. If Godrej Properties Limited takes out the full calculated possible swing range there will be an estimated 7.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹2,842.75, some ₹458.35 (13.88%) from the current price of ₹3,301.10, our system finds the risk reward attractive.
Is Godrej Properties Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Godrej Properties Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 9.188 Strong Buy Candidate Upgraded
Predicted Opening Price for Godrej Properties Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹3,270.72 ( 0.92%) | ₹3,301.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GODREJPROP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,439.57 | 4.19% |
| R2 | 3,375.07 | 2.24% |
| R1 | 3,335.22 | 1.03% |
| Price | 3,301.10 | |
| S1 | 3,206.22 | -2.87% |
| S2 | 3,166.37 | -4.08% |
| S3 | 3,101.87 | -6.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 3,301.10 | |
| S1 | 2,842.75 | -13.88% |
| S2 | 2,704.50 | -18.07% |
| S3 | 2,588.60 | -21.58% |
GODREJPROP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2015 | Jul 27, 2015 | Sep 03, 2015 | ₹2.00 | 0.661% |
| 2 | May 02, 2014 | Jul 28, 2014 | Sep 01, 2014 | ₹2.00 | 0.89% |
| 3 | May 09, 2013 | Jul 02, 2013 | Aug 26, 2013 | ₹1.86 | 0.87% |
| 4 | May 05, 2012 | Jul 19, 2012 | Aug 27, 2012 | ₹1.40 | 0.577% |
| 5 | May 07, 2011 | Jul 14, 2011 | Aug 01, 2011 | ₹2.09 | 0.591% |
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