Garware Hi-tech Films Limited Stock Forecast
Garware Hi-tech Films Limited stock price up more than 5.76% on Friday
(Updated on Jun 28, 2024)
The Garware Hi-tech Films Limited stock price gained 5.76% on the last trading day (Friday, 28th Jun 2024), rising from ₹2,228.10 to ₹2,356.40. During the last trading day the stock fluctuated 8.47% from a day low at ₹2,233.00 to a day high of ₹2,422.05. The price has risen in 7 of the last 10 days and is up by 10.59% 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, 28 thousand more shares were traded than the day before. In total, 223 thousand shares were bought and sold for approximately ₹525.84 million.
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 36.36% during the next 3 months and, with a 90% probability hold a price between ₹2,884.51 and ₹3,301.12 at the end of this 3-month period.
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GRWRHITECH.NS Signals & Forecast
Mostly positive signals in the chart today. The Garware Hi-tech Films 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 ₹2,164.84 and ₹1,965.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 18.15%. 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 Garware Hi-tech Films Limited stock
Garware Hi-tech Films Limited finds support from accumulated volume at ₹2,253.15 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 ₹189.05 between high and low, or 8.47%. For the last week, the stock has had daily average volatility of 7.96%.
Our recommended stop-loss: ₹2,268.74 (-3.72%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (GRWRHITECH.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Garware Hi-tech Films Limited to open at ₹2,337.15, and during the day (based on 14 day Average True Range), to move between ₹2,212.89 and ₹2,499.91, which gives a possible trading interval of +/-₹143.51 (+/-6.09%) up or down from last closing price. If Garware Hi-tech Films Limited takes out the full calculated possible swing range there will be an estimated 12.18% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹2,253.15, some ₹103.25 (4.38%) from the current price of ₹2,356.40, our system finds the risk reward attractive.
Is Garware Hi-tech Films 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 Garware Hi-tech Films Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.145 Buy Candidate Upgraded
Predicted Opening Price for Garware Hi-tech Films Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹2,337.15 ( 0.82%) | ₹2,356.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRWRHITECH.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,526.20 | 7.21% |
| R2 | 2,453.98 | 4.14% |
| R1 | 2,409.37 | 2.25% |
| Price | 2,356.40 | |
| S1 | 2,264.93 | -3.88% |
| S2 | 2,220.32 | -5.78% |
| S3 | 2,148.10 | -8.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2,356.40 | |
| S1 | 2,253.15 | -4.38% |
| S2 | 2,228.10 | -5.44% |
| S3 | 1,998.70 | -15.18% |
GRWRHITECH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2023 | Sep 20, 2023 | Oct 27, 2023 | ₹10.00 | 0.703% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Oct 27, 2022 | ₹10.00 | 1.47% |
| 3 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹10.00 | 1.35% |
FAQ
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