Graphite India Limited Stock Forecast
Green day on Tuesday for Graphite India Limited stock after gaining 1.21%
(Updated on Apr 23, 2024)
The Graphite India Limited stock price gained 1.21% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹676.80 to ₹685.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.71% from a day low at ₹677.40 to a day high of ₹688.95. The price has risen in 6 of the last 10 days and is up by 3.69% over the past 2 weeks. Volume fell on the last day by -456 thousand shares and in total, 2 million shares were bought and sold for approximately ₹1.06 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 22.07% during the next 3 months and, with a 90% probability hold a price between ₹773.98 and ₹876.53 at the end of this 3-month period.
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GRAPHITE.NS Signals & Forecast
Mostly positive signals in the chart today. The Graphite 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 ₹664.86 and ₹634.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 16.53%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Graphite India Limited stock
Graphite India Limited finds support from accumulated volume at ₹670.35 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 ₹11.55 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: ₹652.19 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (GRAPHITE.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Graphite India Limited to open at ₹683.78, and during the day (based on 14 day Average True Range), to move between ₹657.05 and ₹712.95, which gives a possible trading interval of +/-₹27.95 (+/-4.08%) up or down from last closing price. If Graphite India Limited takes out the full calculated possible swing range there will be an estimated 8.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹670.35, some ₹14.65 (2.14%) from the current price of ₹685.00, our system finds the risk reward attractive.
Is Graphite 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 Graphite India Limited stock to perform well in the short-term.
Current score: 4.306 Buy Candidate Unchanged
Predicted Opening Price for Graphite India Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹683.78 ( 0.178%) | ₹685.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRAPHITE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 695.33 | 1.51 % | |
| R2 | 690.92 | 0.86 % | ||
| R1 | 688.20 | 0.466 % | ||
| Current price: | 685.00 | |||
| Support | S1 | 679.37 | -0.82 % | |
| S2 | 676.65 | -1.22 % | ||
| S3 | 672.23 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 685.00 | |||
| Support | S1 | 670.35 | -2.14% | |
| S2 | 607.85 | -11.26% | ||
| S3 | 586.20 | -14.42% |
GRAPHITE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | ₹8.50 | 2.07% |
| 2 | Jul 25, 2022 | Jul 25, 2022 | Jul 25, 2022 | ₹10.00 | 2.44% |
| 3 | Aug 09, 2021 | Aug 09, 2021 | Aug 09, 2021 | ₹5.00 | 0.709% |
| 4 | Mar 12, 2020 | Mar 23, 2020 | Mar 31, 2020 | ₹2.00 | 1.57% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ₹35.00 | 10.24% |
FAQ
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