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Price and trend forecast of GSPL for Tomorrow, Weekly, Monthly

Gujarat State Petronet Limited

Symbol: NSE:GSPL

ISIN: INE246F01010

376.80

As on 2024-04-12

254.50 (52W Low) 406.75 (52W High)

GSPL's Today's Performance

Gujarat State Petronet Limited started the day by opening at 388.00 today 2024-04-12. Its shares reached a high of 388.00 and dipped to a low of 374.15 in intraday. When the markets closed, GSPL’s stock price settled at ₹376.80 per share. Also check out its key support and resistance levels.

GSPL Buy/Sell Targets

Tomorrow, sell GSPL when its price reaches ₹ 376.80 with a stop-loss order at ₹ 383.10. You can set the target price as ₹ 370.50 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of GSPL for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for GSPL

Resistance Levels Value in ₹
Tomorrow Resistance 1 385
Tomorrow Resistance 2 394
Tomorrow Resistance 3 399

Important Supports for GSPL

Support Levels Value in ₹
Tomorrow Support 1 371
Tomorrow Support 2 366
Tomorrow Support 3 357
Based on where the stock opens tomorrow, if GSPL opens on a positive note, our first target will be ₹385. If Target 1 is achieved, we will aim for Target 2 which is ₹394.

But if GSPL falls below the average value of ₹379.65, you can enter a sell side position with target number 1 - ₹371 and second target - ₹366 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of GSPL

Looking at GSPL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, GSPL has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for GSPL is strong bullish.

Tomorrow's Volume based share price Forecast for GSPL

GSPL's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 48%.

Reversal detection for GSPL

Predicted trend chart of GSPL tomorrow for price forecast
GSPL may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹388 in morning tomorrow
Target 1 tomorrow385
Target 2 tomorrow388
Target 3 tomorrow394
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with GSPL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if GSPL opens on a positive note, our first target will be ₹385.15. If Target 1 is achieved, we will aim for Target 2 which is ₹393.50.

But if GSPL falls below the average value of ₹379.65, you can enter a sell side position with target number 1 - ₹371.30 and second target - ₹365.80

GSPL's Weekly Targets
1st Up Target 388.48
2nd Up Target 400.17
1st Down Target 369.63
2nd Down Target 362.47

As the week for GSPL ended on bearish sentiments, we can expect further continuation of this sentiment. GSPL's initial target will be 388.48 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 369.63 in the upcoming week.

Weekly OHLC Values
Open 377.75
High 393.00
Low 374.15
Close 376.80

Week for GSPL started with an open price of 377.75, and the close was at 376.80. GSPL reached the highest of 393.00 and dipped lowest up to 374.15 last week. This indicates a bearish sentiment for the week.

GSPL full month swing targets
Monthly Up Target 1 407.33
Monthly Up Target 2 419.02
Monthly Down Target 1 350.78
Monthly Down Target 2 324.77

Targets of ₹407.33 can be expected to be reached in the coming month. Once GSPL achieved this target, we can aim for the next upside target of ₹419.02.

GSPL if fails to hold upside, down targets of ₹350.78 and ₹324.77 can be achieved by end of this month.

For complete three weeks if GSPL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as GSPL

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

GSPL is expected to reach the target of 385.15 in tomorrow's trading session.

After achieving the initial target in GSPL, we will aim for higher targets of 393.50 tomorrow.

However, if GSPL starts to trade below ₹379.65, then we will shift our focus to the sell side and aim for down targets of 371.30 and 365.80.