GVK Power & Infrastructure Limited Stock Forecast
GVK Power & Infrastructure Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The GVK Power & Infrastructure Limited stock price fell by -0.540% on the last day (Thursday, 27th Jun 2024) from ₹11.11 to ₹11.05. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.00% from a day low at ₹11.01 to a day high of ₹11.34. The price has fallen in 8 of the last 10 days and is down by -2.64% 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 -564 thousand shares and in total, 333 thousand shares were bought and sold for approximately ₹3.68 million.
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 GVK Power & Infrastructure Limited stock with a 90% probability to be traded between ₹10.32 and ₹12.04 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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GVKPIL.BO Signals & Forecast
The GVK Power & Infrastructure 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 ₹11.22. On a fall, the stock will find some support from the long-term average at approximately ₹10.79. 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 Friday, June 21, 2024, and so far it has fallen -4.08%. Further fall is indicated until a new bottom pivot has been found. 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 GVK Power & Infrastructure Limited stock
GVK Power & Infrastructure Limited finds support from accumulated volume at ₹10.87 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 ₹0.330 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 4.91%.
Our recommended stop-loss: ₹10.53 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (GVKPIL.BO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect GVK Power & Infrastructure Limited to open at ₹11.13, and during the day (based on 14 day Average True Range), to move between ₹10.53 and ₹11.57, which gives a possible trading interval of +/-₹0.518 (+/-4.69%) up or down from last closing price. If GVK Power & Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 9.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹11.09 (0.36%) than the support at ₹10.87 (1.63%), 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 GVK Power & Infrastructure Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for GVK Power & Infrastructure Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.783 Buy Candidate Upgraded
Predicted Opening Price for GVK Power & Infrastructure Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹11.13 ( 0.754%) | ₹11.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GVKPIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.46 | 3.74% |
| R2 | 11.34 | 2.60% |
| R1 | 11.26 | 1.89% |
| Price | 11.05 | |
| S1 | 11.01 | -0.387% |
| S2 | 10.93 | -1.09% |
| S3 | 10.80 | -2.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.70 | 5.88% |
| R2 | 11.11 | 0.543% |
| R1 | 11.09 | 0.362% |
| Price | 11.05 | |
| S1 | 10.87 | -1.63% |
| S2 | 10.57 | -4.34% |
| S3 | 10.22 | -7.51% |
GVKPIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 06, 2006 | Nov 06, 2006 | Nov 06, 2006 | ₹2.50 | 9.26% |
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