GVK Power & Infrastructure Limited Stock Forecast
GVK Power & Infrastructure Limited stock upgraded to Strong Buy Candidate.
(Updated on Jun 21, 2024)
The GVK Power & Infrastructure Limited stock price gained 4.91% on the last trading day (Friday, 21st Jun 2024), rising from ₹10.99 to ₹11.53. During the last trading day the stock fluctuated 4.34% from a day low at ₹11.05 to a day high of ₹11.53. The price has been going up and down for this period, and there has been a 12.49% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ₹88.00 million.
The stock lies in the middle of a wide and weak 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 2.65% during the next 3 months and, with a 90% probability hold a price between ₹10.47 and ₹12.29 at the end of this 3-month period.
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GVKPIL.NS Signals & Forecast
Mostly positive signals in the chart today. The GVK Power & Infrastructure 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 ₹11.24 and ₹10.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 14.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for GVK Power & Infrastructure Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹10.90 and ₹10.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, GVK Power & Infrastructure Limited finds support just below today's level at ₹10.90. If this is broken, then the next support from accumulated volume will be at ₹10.85 and ₹10.50.
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 ₹0.480 between high and low, or 4.34%. For the last week, the stock has had daily average volatility of 4.10%.
Our recommended stop-loss: ₹11.10 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (GVKPIL.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect GVK Power & Infrastructure Limited to open at ₹11.37, and during the day (based on 14 day Average True Range), to move between ₹11.04 and ₹12.02, which gives a possible trading interval of +/-₹0.491 (+/-4.25%) 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 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹11.60 (0.61%) than the support at ₹10.90 (5.46%), 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?
GVK Power & Infrastructure Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.227 Strong Buy Candidate Upgraded
Predicted Opening Price for GVK Power & Infrastructure Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹11.37 ( 1.39%) | ₹11.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GVKPIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.85 | 2.78% |
| R2 | 11.67 | 1.19% |
| R1 | 11.55 | 0.203% |
| Price | 11.53 | |
| S1 | 11.19 | -2.98% |
| S2 | 11.07 | -3.96% |
| S3 | 10.89 | -5.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 11.70 | 1.47% |
| R1 | 11.60 | 0.607% |
| Price | 11.53 | |
| S1 | 10.90 | -5.46% |
| S2 | 10.85 | -5.90% |
| S3 | 10.50 | -8.93% |
GVKPIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 23, 2006 | Nov 06, 2006 | Nov 14, 2006 | ₹0.250 | 1.02% |
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