Gujarat State Petronet Limited Stock Forecast
Gujarat State Petronet Limited stock upgraded to Sell Candidate.
(Updated on Apr 26, 2024)
The Gujarat State Petronet Limited stock price fell by -0.0852% on the last day (Friday, 26th Apr 2024) from ₹293.30 to ₹293.05. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 1.83% from a day low at ₹292.00 to a day high of ₹297.35. The price has fallen in 8 of the last 10 days and is down by -23.76% for this period. 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 -427 thousand shares and in total, 3 million shares were bought and sold for approximately ₹805.83 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (₹323.17) are considered to be a "second chance" to get out. According to the fan-theory ₹257.48 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GSPL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Gujarat State Petronet Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹321.56 and ₹353.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -25.23%. 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 Gujarat State Petronet Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₹5.35 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 4.92%.
Gujarat State Petronet Limited is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSPL.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Gujarat State Petronet Limited to open at ₹294.13, and during the day (based on 14 day Average True Range), to move between ₹275.97 and ₹310.13, which gives a possible trading interval of +/-₹17.08 (+/-5.83%) up or down from last closing price. If Gujarat State Petronet Limited takes out the full calculated possible swing range there will be an estimated 11.65% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹295.90, some ₹2.85 (0.97%) from the current price of ₹293.05, our system finds the risk reward not very attractive.
Is Gujarat State Petronet Limited stock A Buy?
Gujarat State Petronet Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.578 Sell Candidate Upgraded
Predicted Opening Price for Gujarat State Petronet Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹294.13 ( 0.370%) | ₹293.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSPL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 299.48 | 2.20 % | |
| R2 | 297.44 | 1.50 % | ||
| R1 | 296.18 | 1.07 % | ||
| Current price: | 293.05 | |||
| Support | S1 | 292.09 | -0.328 % | |
| S2 | 290.83 | -0.759 % | ||
| S3 | 288.78 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 303.85 | 3.69 % | |
| R2 | 301.30 | 2.82 % | ||
| R1 | 295.90 | 0.97 % | ||
| Current price | 293.05 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GSPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 01, 2022 | Sep 01, 2022 | Sep 01, 2022 | ₹2.00 | 0.83% |
| 2 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹2.00 | 0.574% |
| 3 | Sep 09, 2020 | Sep 09, 2020 | Sep 09, 2020 | ₹2.00 | 1.02% |
| 4 | May 09, 2019 | Sep 12, 2019 | Oct 01, 2019 | ₹2.00 | 0.95% |
| 5 | May 21, 2018 | Sep 19, 2018 | Oct 05, 2018 | ₹1.75 | 0.99% |
FAQ
Click here for our free guide on how to buy Gujarat State Petronet Limited Stock.
