Garden Reach Shipbuilders & En Stock Forecast
Garden Reach Shipbuilders & En stock price up 0.96% on Friday
(Updated on May 03, 2024)
The Garden Reach Shipbuilders & En stock price gained 0.96% on the last trading day (Friday, 3rd May 2024), rising from ₹990.15 to ₹999.65. During the last trading day the stock fluctuated 4.04% from a day low at ₹972.00 to a day high of ₹1,011.25. The price has risen in 7 of the last 10 days and is up by 15.61% over the past 2 weeks. Volume fell on the last day by -85 thousand shares and in total, 30 thousand shares were bought and sold for approximately ₹30.05 million. 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 upper part of a very 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 ₹1,036.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.49% during the next 3 months and, with a 90% probability hold a price between ₹878.61 and ₹1,197.11 at the end of this 3-month period.
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GRSE.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -2.41%. 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). The Garden Reach Shipbuilders & En 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 ₹998.30 and ₹856.68. A breakdown below any of these levels will issue sell signals. 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 Garden Reach Shipbuilders & En stock
Garden Reach Shipbuilders & En finds support from accumulated volume at ₹983.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹39.25 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: ₹961.03 (-3.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (GRSE.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Garden Reach Shipbuilders & En to open at ₹994.30, and during the day (based on 14 day Average True Range), to move between ₹953.20 and ₹1,046.10, which gives a possible trading interval of +/-₹46.45 (+/-4.65%) up or down from last closing price. If Garden Reach Shipbuilders & En takes out the full calculated possible swing range there will be an estimated 9.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,000.45 (0.08%) than the support at ₹983.10 (1.66%), 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.
Is Garden Reach Shipbuilders & En 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 Garden Reach Shipbuilders & En stock to perform well in the short-term.
Current score: 2.204 Buy Candidate Unchanged
Predicted Opening Price for Garden Reach Shipbuilders & En of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹994.30 ( 0.535%) | ₹999.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRSE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,033.55 | 3.39 % | |
| R2 | 1,018.56 | 1.89 % | ||
| R1 | 1,009.29 | 0.96 % | ||
| Current price: | 999.65 | |||
| Support | S1 | 979.31 | -2.04 % | |
| S2 | 970.04 | -2.96 % | ||
| S3 | 955.05 | -4.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,024.35 | 2.47 % | |
| R2 | 1,000.55 | 0.0900 % | ||
| R1 | 1,000.45 | 0.0800 % | ||
| Current price | 999.65 | |||
| Support | S1 | 983.10 | -1.66% | |
| S2 | 958.30 | -4.14% | ||
| S3 | 883.05 | -11.66% |
GRSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 14, 2024 | ₹7.92 | 1.09% |
| 2 | Sep 15, 2023 | Sep 15, 2023 | Oct 22, 2023 | ₹0.700 | 0.0924% |
| 3 | Feb 20, 2023 | Feb 20, 2023 | Mar 12, 2023 | ₹5.50 | 1.29% |
FAQ
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