GSB Finance Limited Stock Forecast
High volatility in GSB Finance Limited stock price on Friday which ended trading at ₹15.29
(Updated on Jun 14, 2024)
The GSB Finance Limited stock price gained 5.45% on the last trading day (Friday, 14th Jun 2024), rising from ₹14.50 to ₹15.29. It has now gained 4 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 10.49% from a day low at ₹14.30 to a day high of ₹15.80. The price has risen in 6 of the last 10 days and is up by 3.03% 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, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹30.75 thousand.
The stock lies the upper part of a wide and falling 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 ₹15.32 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.92% during the next 3 months and, with a 90% probability hold a price between ₹11.54 and ₹13.80 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GSBFIN.BO Signals & Forecast
Mostly positive signals in the chart today. The GSB Finance Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹14.47 and ₹14.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 9.92%. 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). GSB Finance Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Monday, June 10, 2024 and based on theory for this formation the price should go up by 10.05% to ₹16.83 within 34 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for GSB Finance Limited stock
GSB Finance Limited finds support from accumulated volume at ₹14.76 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 ₹1.50 between high and low, or 10.49%. For the last week, the stock has had daily average volatility of 7.03%.
Our recommended stop-loss: ₹14.49 (-5.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (GSBFIN.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect GSB Finance Limited to open at ₹15.13, and during the day (based on 14 day Average True Range), to move between ₹14.41 and ₹16.17, which gives a possible trading interval of +/-₹0.88 (+/-5.76%) up or down from last closing price. If GSB Finance Limited takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹15.30 (0.07%) than the support at ₹14.76 (3.47%), 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 GSB Finance Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.446 Buy Candidate Upgraded
Predicted Opening Price for GSB Finance Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹15.13 ( 1.05%) | ₹15.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSBFIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.63 | 8.76% |
| R2 | 16.06 | 5.02% |
| R1 | 15.70 | 2.70% |
| Price | 15.29 | |
| S1 | 14.56 | -4.79% |
| S2 | 14.20 | -7.11% |
| S3 | 13.63 | -10.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.81 | 3.40% |
| R2 | 15.49 | 1.31% |
| R1 | 15.30 | 0.0654% |
| Price | 15.29 | |
| S1 | 14.76 | -3.47% |
| S2 | 14.53 | -4.97% |
| S3 | 14.43 | -5.62% |
GSBFIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 24, 2018 | Sep 24, 2018 | Oct 28, 2018 | ₹0.250 | 1.80% |
| 2 | Sep 20, 2017 | Sep 20, 2017 | Oct 26, 2017 | ₹0.250 | 2.70% |
| 3 | Sep 24, 2008 | Sep 24, 2008 | Sep 24, 2008 | ₹0.500 | 6.08% |
| 4 | Sep 24, 2007 | Sep 24, 2007 | Sep 24, 2007 | ₹0.500 | 4.88% |
FAQ
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