Gujarat State Fertilizers & Chemicals Stock Forecast

Gujarat State Fertilizers & Chemicals stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 14, 2024)

GSFC.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 14.98%. 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 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gujarat State Fertilizers & Chemicals stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹225.97. On a fall, the stock will find some support from the short-term average at ₹218.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Gujarat State Fertilizers & Chemicals stock

Gujarat State Fertilizers & Chemicals finds support from accumulated volume at ₹221.60 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 ₹4.35 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 3.43%.

Our recommended stop-loss: ₹216.35 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (GSFC.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Gujarat State Fertilizers & Chemicals Limited to open at ₹224.50, and during the day (based on 14 day Average True Range), to move between ₹214.73 and ₹233.57, which gives a possible trading interval of +/-₹9.42 (+/-4.20%) up or down from last closing price. If Gujarat State Fertilizers & Chemicals Limited takes out the full calculated possible swing range there will be an estimated 8.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹221.60 (1.14%) than the resistance at ₹238.50 (6.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Gujarat State Fertilizers & Chemicals Limited stock A Buy?

Gujarat State Fertilizers & Chemicals holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.294 Hold/Accumulate Upgraded

Predicted Opening Price for Gujarat State Fertilizers & Chemicals Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.