Gujarat Investa Limited Stock Forecast
Evaluation of Gujarat Investa Limited stock downgraded after the last trading session.
(Updated on May 31, 2024)
The Gujarat Investa Limited stock price fell by -4.96% on the last day (Friday, 31st May 2024) from ₹13.50 to ₹12.83. During the last trading day the stock fluctuated 5.22% from a day low at ₹12.83 to a day high of ₹13.50. The price has risen in 4 of the last 10 days and is up by 8.91% over the past 2 weeks. 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 -12 thousand shares and in total, 294 shares were bought and sold for approximately ₹3.77 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Gujarat Investa Limited stock with a 90% probability to be traded between ₹11.01 and ₹13.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GUJINV.BO Signals & Forecast
The Gujarat Investa 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 ₹13.08. On a fall, the stock will find some support from the long-term average at approximately ₹12.30. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 30, 2024, and so far it has fallen -4.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Gujarat Investa Limited stock
Gujarat Investa Limited finds support from accumulated volume at ₹12.39 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 ₹0.670 between high and low, or 5.22%. For the last week the stock has had daily average volatility of 2.37%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GUJINV.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Gujarat Investa Limited to open at ₹13.05, and during the day (based on 14 day Average True Range), to move between ₹12.40 and ₹13.26, which gives a possible trading interval of +/-₹0.434 (+/-3.38%) up or down from last closing price. If Gujarat Investa Limited takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹12.85 (0.16%) than the support at ₹12.39 (3.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gujarat Investa Limited stock A Buy?
Gujarat Investa 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.731 Sell Candidate Downgraded
Predicted Opening Price for Gujarat Investa Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹13.05 ( 1.74%) | ₹12.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GUJINV.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.72 | 6.96 % | |
| R2 | 13.47 | 4.97 % | ||
| R1 | 13.31 | 3.74 % | ||
| Current price: | 12.83 | |||
| Support | S1 | 12.80 | -0.254 % | |
| S2 | 12.64 | -1.49 % | ||
| S3 | 12.38 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.50 | 5.22 % | |
| R2 | 12.98 | 1.17 % | ||
| R1 | 12.85 | 0.156 % | ||
| Current price | 12.83 | |||
| Support | S1 | 12.39 | -3.43% | |
| S2 | 11.26 | -12.24% | ||
| S3 | 10.76 | -16.13% |
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