Garden Reach Shipbuilders & Engineers Stock Forecast
Evaluation of Garden Reach Shipbuilders & Engineers stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Garden Reach Shipbuilders & Engineers stock price fell by -2.43% on the last day (Friday, 26th Apr 2024) from ₹1,023.75 to ₹998.85. During the last trading day the stock fluctuated 5.18% from a day low at ₹991.05 to a day high of ₹1,042.40. The price has been going up and down for this period, and there has been a 11.32% gain for the last 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 -6 million shares and in total, 2 million shares were bought and sold for approximately ₹1.57 billion.
The stock lies in the upper part of a very wide and weak 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 ₹1,024.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.98% during the next 3 months and, with a 90% probability hold a price between ₹744.63 and ₹1,075.60 at the end of this 3-month period.
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GRSE.NS Signals & Forecast
The Garden Reach Shipbuilders & Engineers 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 ₹938.27 and ₹840.74. 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 Thursday, April 25, 2024, and so far it has fallen -2.43%. 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 Garden Reach Shipbuilders & Engineers stock
Garden Reach Shipbuilders & Engineers finds support from accumulated volume at ₹983.55 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 ₹51.35 between high and low, or 5.18%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: ₹952.66 (-4.62%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (GRSE.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Garden Reach Shipbuilders & Engineers Limited to open at ₹1,010.77, and during the day (based on 14 day Average True Range), to move between ₹951.49 and ₹1,046.21, which gives a possible trading interval of +/-₹47.36 (+/-4.74%) up or down from last closing price. If Garden Reach Shipbuilders & Engineers Limited takes out the full calculated possible swing range there will be an estimated 9.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹983.55 (1.53%) than the resistance at ₹1,023.75 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Garden Reach Shipbuilders & Engineers 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 Garden Reach Shipbuilders & Engineers stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.344 Buy Candidate Downgraded
Predicted Opening Price for Garden Reach Shipbuilders & Engineers Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹1,010.77 ( 1.19%) | ₹998.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRSE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,062.12 | 6.33 % | |
| R2 | 1,042.50 | 4.37 % | ||
| R1 | 1,030.38 | 3.16 % | ||
| Current price: | 998.85 | |||
| Support | S1 | 991.15 | -0.771 % | |
| S2 | 979.03 | -1.98 % | ||
| S3 | 959.42 | -3.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1,023.75 | 2.49 % | ||
| Current price | 998.85 | |||
| Support | S1 | 983.55 | -1.53% | |
| S2 | 958.00 | -4.09% | ||
| S3 | 882.75 | -11.62% |
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 | Feb 20, 2023 | Feb 20, 2023 | Feb 20, 2023 | ₹5.50 | 1.23% |
| 3 | Sep 16, 2022 | Sep 16, 2022 | Sep 16, 2022 | ₹0.85 | 0.245% |
| 4 | Feb 22, 2022 | Feb 22, 2022 | Feb 22, 2022 | ₹4.95 | 2.35% |
| 5 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | ₹1.15 | 0.595% |
FAQ
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