Gujarat Alkalies and Chemicals Limited Stock Forecast

Gujarat Alkalies and Chemicals Limited stock price down 0.769% on Thursday
(Updated on May 09, 2024)

GUJALKALI.NS Signals & Forecast

The Gujarat Alkalies and Chemicals Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹783.86. On a fall, the stock will find some support from the long-term average at approximately ₹762.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.16%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Gujarat Alkalies and Chemicals Limited stock

Gujarat Alkalies and Chemicals Limited finds support from accumulated volume at ₹750.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹19.30 between high and low, or 2.53%. For the last week the stock has had daily average volatility of 2.72%.

Our recommended stop-loss: ₹748.58 (-3.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (GUJALKALI.NS) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Gujarat Alkalies and Chemicals Limited to open at ₹773.88, and during the day (based on 14 day Average True Range), to move between ₹751.82 and ₹797.08, which gives a possible trading interval of +/-₹22.63 (+/-2.92%) up or down from last closing price. If Gujarat Alkalies and Chemicals Limited takes out the full calculated possible swing range there will be an estimated 5.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹750.80 (3.05%) than the resistance at ₹813.60 (5.06%), 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 Alkalies and Chemicals Limited stock A Buy?

Gujarat Alkalies and Chemicals Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.981 Hold/Accumulate Unchanged

Predicted Opening Price for Gujarat Alkalies and Chemicals Limited of Friday, May 10, 2024

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