Gokul Agro Resources Limited Stock Forecast
Evaluation of Gokul Agro Resources Limited stock downgraded after the last trading session.
(Updated on May 21, 2024)
The Gokul Agro Resources Limited stock price fell by -3.19% on the last day (Tuesday, 21st May 2024) from ₹147.15 to ₹142.45. During the last trading day the stock fluctuated 5.51% from a day low at ₹141.60 to a day high of ₹149.40. The price has fallen in 6 of the last 10 days and is down by -3.62% for this period. Volume has increased on the last day by 327 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 327 thousand shares were bought and sold for approximately ₹46.55 million.
The stock lies in the middle of a wide and strong 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 37.77% during the next 3 months and, with a 90% probability hold a price between ₹178.35 and ₹215.37 at the end of this 3-month period.
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GOKULAGRO.NS Signals & Forecast
The Gokul Agro Resources 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 ₹148.63. On a fall, the stock will find some support from the long-term average at approximately ₹129.18. 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 Tuesday, May 14, 2024, and so far it has fallen -6.71%. 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 Gokul Agro Resources Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹133.30 and ₹132.15. 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, Gokul Agro Resources Limited finds support just below today's level at ₹133.30. If this is broken, then the next support from accumulated volume will be at ₹132.15 and ₹129.10.
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 ₹7.80 between high and low, or 5.51%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: ₹135.70 (-4.74%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (GOKULAGRO.NS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Gokul Agro Resources Limited to open at ₹144.48, and during the day (based on 14 day Average True Range), to move between ₹135.24 and ₹149.66, which gives a possible trading interval of +/-₹7.21 (+/-5.06%) up or down from last closing price. If Gokul Agro Resources Limited takes out the full calculated possible swing range there will be an estimated 10.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹144.35 (1.33%) than the support at ₹133.30 (6.42%), 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 Gokul Agro Resources Limited stock A Buy?
Gokul Agro Resources 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Gokul Agro Resources Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₹144.48 ( 1.43%) | ₹142.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOKULAGRO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 152.28 | 6.90 % | |
| R2 | 149.30 | 4.81 % | ||
| R1 | 147.46 | 3.52 % | ||
| Current price: | 142.45 | |||
| Support | S1 | 141.50 | -0.664 % | |
| S2 | 139.66 | -1.96 % | ||
| S3 | 136.68 | -4.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 152.50 | 7.06 % | |
| R2 | 147.80 | 3.76 % | ||
| R1 | 144.35 | 1.33 % | ||
| Current price | 142.45 | |||
| Support | S1 | 133.30 | -6.42% | |
| S2 | 132.15 | -7.23% | ||
| S3 | 129.10 | -9.37% |
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