Gujarat Poly Electronics Limited Stock Forecast
Big movements in Gujarat Poly Electronics Limited stock price on Friday moving 10.53% between high and low
(Updated on May 17, 2024)
The Gujarat Poly Electronics Limited stock price fell by -0.0347% on the last day (Friday, 17th May 2024) from ₹86.38 to ₹86.35. During the last trading day the stock fluctuated 10.53% from a day low at ₹80.52 to a day high of ₹89.00. The price has fallen in 6 of the last 10 days and is down by -3.75% for this period. Volume has increased on the last day by 27 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 thousand shares were bought and sold for approximately ₹2.65 million.
The stock lies in the middle of a very 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 32.00% during the next 3 months and, with a 90% probability hold a price between ₹93.72 and ₹127.36 at the end of this 3-month period.
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GUJARATPOLY.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -6.94%. 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. The Gujarat Poly Electronics 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 ₹85.20 and ₹77.83. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Gujarat Poly Electronics Limited stock
Gujarat Poly Electronics Limited finds support from accumulated volume at ₹83.92 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 ₹8.48 between high and low, or 10.53%. For the last week, the stock has had daily average volatility of 7.08%.
Our recommended stop-loss: ₹82.58 (-4.37%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (GUJARATPOLY.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Gujarat Poly Electronics Limited to open at ₹85.29, and during the day (based on 14 day Average True Range), to move between ₹79.95 and ₹92.75, which gives a possible trading interval of +/-₹6.40 (+/-7.41%) up or down from last closing price. If Gujarat Poly Electronics Limited takes out the full calculated possible swing range there will be an estimated 14.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹83.92 (2.81%) than the resistance at ₹89.13 (3.22%), 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 Poly Electronics 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 Gujarat Poly Electronics Limited stock to perform well in the short-term.
Current score: 1.324 Buy Candidate Unchanged
Predicted Opening Price for Gujarat Poly Electronics Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹85.29 ( 1.23%) | ₹86.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GUJARATPOLY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.77 | 8.59 % | |
| R2 | 90.53 | 4.84 % | ||
| R1 | 88.53 | 2.52 % | ||
| Current price: | 86.35 | |||
| Support | S1 | 82.05 | -4.98 % | |
| S2 | 80.05 | -7.30 % | ||
| S3 | 76.81 | -11.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.79 | 7.46 % | |
| R2 | 89.71 | 3.89 % | ||
| R1 | 89.13 | 3.22 % | ||
| Current price | 86.35 | |||
| Support | S1 | 83.92 | -2.81% | |
| S2 | 83.41 | -3.40% | ||
| S3 | 76.73 | -11.14% |
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