Godawari Power And Ispat limited (GPIL) Stock - Complete Technical Analysis - Sep 06, 2024

Godawari Power Stock Analysis: Bearish Trends

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Godawari Power and Ispat Limited (GPIL) is currently priced at 929. The technical indicators show a bearish outlook with potential for a short-term bounce. The RSI is in the lower range, suggesting that the stock is oversold, which could indicate a potential reversal or consolidation. The Stochastic %K and Stochastic RSI also point to oversold conditions, aligning with a possible short-term rebound.

The MACD is negative, reinforcing the bearish trend, while the Awesome Oscillator and Bull Bear Power also suggest declining momentum. The CCI is negative, adding to the bearish sentiment. The ADX is relatively high, indicating a strong trend, but it is currently bearish.

Moving averages are mostly above the current price, with the stock trading below both short-term and long-term averages. The Ichimoku Base Line and Hull Moving Average are also above the current price, further indicating resistance levels.

Overall, GPIL is showing a bearish trend with some oversold signals that might lead to a temporary rebound. Key resistance levels to watch are around the moving averages, while support can be considered near recent lows. Traders should look for potential entry points around support levels or signs of a reversal.