Gujarat Craft Industries Limited Stock Forecast

Green day on Tuesday for Gujarat Craft Industries Limited
(Updated on Jun 25, 2024)

GUJCRAFT.BO Signals & Forecast

There are mixed signals in the stock today. The Gujarat Craft Industries Limited 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 ₹110.40. On a fall, the stock will find some support from the short-term average at ₹105.08. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 4.03%. Further rise is indicated until a new top pivot has been found.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, May 27, 2024 with a target of ₹109.36. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Gujarat Craft Industries Limited stock

Gujarat Craft Industries Limited finds support from accumulated volume at ₹105.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.29%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GUJCRAFT.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Gujarat Craft Industries Limited to open at ₹107.10, and during the day (based on 14 day Average True Range), to move between ₹105.09 and ₹109.11, which gives a possible trading interval of +/-₹2.01 (+/-1.87%) up or down from last closing price. If Gujarat Craft Industries Limited takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹105.00 (1.96%) than the resistance at ₹112.20 (4.76%), 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 Craft Industries Limited stock A Buy?

Gujarat Craft Industries Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.529 Sell Candidate Unchanged

Predicted Opening Price for Gujarat Craft Industries Limited of Wednesday, June 26, 2024

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