Garware Hi-tech Films 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
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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