Grindwell Norton Limited Stock Forecast
Grindwell Norton Limited stock price up 0.107% on Friday
(Updated on Jun 14, 2024)
The Grindwell Norton Limited stock price gained 0.107% on the last trading day (Friday, 14th Jun 2024), rising from ₹2,711.75 to ₹2,714.65. It has now gained 3 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 1.55% from a day low at ₹2,681.00 to a day high of ₹2,722.50. The price has risen in 7 of the last 10 days and is up by 5.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 thousand more shares were traded than the day before. In total, 85 thousand shares were bought and sold for approximately ₹231.30 million.
The stock lies in the upper part of a 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 ₹2,737.62 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 38.42% during the next 3 months and, with a 90% probability hold a price between ₹3,448.56 and ₹3,789.38 at the end of this 3-month period.
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GRINDWELL.NS Signals & Forecast
Mostly positive signals in the chart today. The Grindwell Norton 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 ₹2,649.27 and ₹2,375.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 12.85%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Grindwell Norton Limited stock
Grindwell Norton Limited finds support from accumulated volume at ₹2,590.55 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 ₹41.50 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: ₹2,617.47 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (GRINDWELL.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Grindwell Norton Limited to open at ₹2,706.05, and during the day (based on 14 day Average True Range), to move between ₹2,611.89 and ₹2,817.41, which gives a possible trading interval of +/-₹102.76 (+/-3.79%) up or down from last closing price. If Grindwell Norton Limited takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹2,590.55, some ₹124.10 (4.57%) from the current price of ₹2,714.65, our system finds the risk reward attractive.
Is Grindwell Norton Limited stock A Buy?
Grindwell Norton Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.485 Strong Buy Candidate Unchanged
Predicted Opening Price for Grindwell Norton Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹2,706.05 ( 0.317%) | ₹2,714.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRINDWELL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,747.55 | 1.21% |
| R2 | 2,731.70 | 0.628% |
| R1 | 2,721.90 | 0.267% |
| Price | 2,714.65 | |
| S1 | 2,690.20 | -0.90% |
| S2 | 2,680.40 | -1.26% |
| S3 | 2,664.55 | -1.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2,714.65 | |
| S1 | 2,590.55 | -4.57% |
| S2 | 2,507.00 | -7.65% |
| S3 | 2,197.25 | -19.06% |
GRINDWELL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 09, 2024 | Jul 09, 2024 | Aug 17, 2024 | ₹17.00 | 0.626% |
| 2 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ₹14.50 | 0.635% |
| 3 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹14.50 | 0.628% |
| 4 | Jul 19, 2022 | Jul 19, 2022 | Jul 19, 2022 | ₹12.00 | 0.714% |
| 5 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | ₹9.50 | 0.770% |
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