Goodluck India Limited Stock Forecast

Goodluck India Limited stock price down 1.16% on Friday
(Updated on Apr 26, 2024)

GOODLUCK.NS Signals & Forecast

The Goodluck 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 ₹918.32. On a fall, the stock will find some support from the long-term average at approximately ₹900.08. 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. 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 Thursday, April 04, 2024, and so far it has fallen -8.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Goodluck India Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹853.15 and ₹845.15. 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, Goodluck India Limited finds support just below today's level at ₹853.15. If this is broken, then the next support from accumulated volume will be at ₹845.15 and ₹788.90.

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 ₹21.40 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 3.50%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GOODLUCK.NS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Goodluck India Limited to open at ₹903.73, and during the day (based on 14 day Average True Range), to move between ₹859.43 and ₹942.17, which gives a possible trading interval of +/-₹41.37 (+/-4.59%) up or down from last closing price. If Goodluck India Limited takes out the full calculated possible swing range there will be an estimated 9.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹853.15 (5.29%) than the resistance at ₹1,044.75 (15.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Goodluck India Limited stock A Buy?

Goodluck India Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -1.296 Sell Candidate Unchanged

Predicted Opening Price for Goodluck India Limited of Monday, April 29, 2024

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