Graphite India Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Graphite India Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Graphite India Limited stock price fell by -1.52% on the last day (Friday, 3rd May 2024) from ₹666.65 to ₹656.50. During the last trading day the stock fluctuated 2.61% from a day low at ₹654.05 to a day high of ₹671.15. The price has fallen in 6 of the last 10 days and is down by -2.52% for this period. Volume has increased on the last day by 10 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, 865 thousand shares were bought and sold for approximately ₹568.14 million.
The stock lies in the middle of a 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 20.94% during the next 3 months and, with a 90% probability hold a price between ₹777.11 and ₹847.57 at the end of this 3-month period.
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GRAPHITE.NS Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -4.68%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Graphite 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 ₹675.45. On a fall, the stock will find some support from the long-term average at approximately ₹647.16. 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.
Support, Risk & Stop-loss for Graphite India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹607.85 and ₹602.65. 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, Graphite India Limited finds support just below today's level at ₹607.85. If this is broken, then the next support from accumulated volume will be at ₹602.65 and ₹586.20.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹17.10 between high and low, or 2.61%. For the last week the stock has had daily average volatility of 2.34%.
Our recommended stop-loss: ₹628.34 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (GRAPHITE.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Graphite India Limited to open at ₹660.57, and during the day (based on 14 day Average True Range), to move between ₹632.81 and ₹680.19, which gives a possible trading interval of +/-₹23.69 (+/-3.61%) up or down from last closing price. If Graphite India Limited takes out the full calculated possible swing range there will be an estimated 7.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹670.35 (2.11%) than the support at ₹607.85 (7.41%), 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.
Earnings coming up
Graphite India Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Graphite India Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.18% in the first trading day after earnings release.
Is Graphite India Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.480 Buy Candidate Upgraded
Predicted Opening Price for Graphite India Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹660.57 ( 0.619%) | ₹656.50 |
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 | 677.67 | 3.22 % | |
| R2 | 671.13 | 2.23 % | ||
| R1 | 667.10 | 1.61 % | ||
| Current price: | 656.50 | |||
| Support | S1 | 654.03 | -0.376 % | |
| S2 | 650.00 | -0.99 % | ||
| S3 | 643.47 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 688.70 | 4.90 % | |
| R2 | 681.25 | 3.77 % | ||
| R1 | 670.35 | 2.11 % | ||
| Current price | 656.50 | |||
| Support | S1 | 607.85 | -7.41% | |
| S2 | 602.65 | -8.20% | ||
| S3 | 586.20 | -10.71% |
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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