Granules India Limited Stock Forecast
Red day on Friday for Granules India Limited stock after losing 0.97%
(Updated on Jun 28, 2024)
The Granules India Limited stock price fell by -0.97% on the last day (Friday, 28th Jun 2024) from ₹498.10 to ₹493.25. During the last trading day the stock fluctuated 3.11% from a day low at ₹491.70 to a day high of ₹507.00. The price has fallen in 6 of the last 10 days but is still up by 6.68% 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 -104 thousand shares and in total, 43 thousand shares were bought and sold for approximately ₹21.27 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹505.24 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.36% during the next 3 months and, with a 90% probability hold a price between ₹490.57 and ₹577.80 at the end of this 3-month period.
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GRANULES.BO Signals & Forecast
The Granules India 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 ₹490.38 and ₹445.47. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 26, 2024, and so far it has fallen -1.95%. 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 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 Granules India Limited stock
Granules India Limited finds support from accumulated volume at ₹491.15 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 ₹15.30 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: ₹471.62 (-4.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (GRANULES.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Granules India Limited to open at ₹497.32, and during the day (based on 14 day Average True Range), to move between ₹477.63 and ₹508.87, which gives a possible trading interval of +/-₹15.62 (+/-3.17%) up or down from last closing price. If Granules India Limited takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹491.15 (0.43%) than the resistance at ₹498.10 (0.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Granules India 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 Granules India Limited stock to perform well in the short-term.
Current score: 3.365 Buy Candidate Unchanged
Predicted Opening Price for Granules India Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹497.32 ( 0.82%) | ₹493.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRANULES.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 512.62 | 3.93% |
| R2 | 506.77 | 2.74% |
| R1 | 503.16 | 2.01% |
| Price | 493.25 | |
| S1 | 491.47 | -0.360% |
| S2 | 487.86 | -1.09% |
| S3 | 482.02 | -2.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 503.05 | 1.99% |
| R1 | 498.10 | 0.98% |
| Price | 493.25 | |
| S1 | 491.15 | -0.426% |
| S2 | 426.80 | -13.47% |
| S3 | 418.15 | -15.23% |
GRANULES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 30, 2024 | Jul 30, 2024 | Sep 05, 2024 | ₹1.50 | 0.304% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Sep 08, 2023 | ₹1.50 | 0.480% |
| 3 | Jul 28, 2020 | Jul 28, 2020 | Aug 16, 2020 | ₹0.250 | 0.0815% |
| 4 | Aug 08, 2019 | Aug 08, 2019 | Feb 28, 2019 | ₹0.250 | 0.256% |
| 5 | Aug 01, 2018 | Aug 01, 2018 | Aug 22, 2018 | ₹0.250 | 0.224% |
FAQ
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