Adani Enterprises Limited Stock Forecast
Adani Enterprises Limited stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Adani Enterprises Limited stock price fell by -0.96% on the last day (Tuesday, 2nd Jul 2024) from ₹3,183.80 to ₹3,153.20. During the last trading day the stock fluctuated 2.45% from a day low at ₹3,131.05 to a day high of ₹3,207.80. The price has fallen in 6 of the last 10 days and is down by -4.71% for this period. Volume has increased on the last day by 659 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately ₹4.70 billion.
The stock lies in the middle of a very 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 4.15% during the next 3 months and, with a 90% probability hold a price between ₹2,972.73 and ₹3,845.78 at the end of this 3-month period.
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ADANIENT.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Adani Enterprises Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹3,175.07 and ₹3,205.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Adani Enterprises Limited stock
Adani Enterprises Limited finds support from accumulated volume at ₹3,115.35 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 ₹76.75 between high and low, or 2.45%. For the last week, the stock has had daily average volatility of 1.55%.
Our recommended stop-loss: ₹3,048.07 (-3.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (ADANIENT.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Adani Enterprises Limited to open at ₹3,164.02, and during the day (based on 14 day Average True Range), to move between ₹3,054.81 and ₹3,251.59, which gives a possible trading interval of +/-₹98.39 (+/-3.12%) up or down from last closing price. If Adani Enterprises Limited takes out the full calculated possible swing range there will be an estimated 6.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹3,115.35 (1.20%) than the resistance at ₹3,387.30 (7.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Adani Enterprises Limited stock A Buy?
Adani Enterprises Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.116 Hold/Accumulate Upgraded
Predicted Opening Price for Adani Enterprises Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹3,164.02 ( 0.343%) | ₹3,153.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADANIENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,240.77 | 2.78% |
| R2 | 3,211.45 | 1.85% |
| R1 | 3,193.34 | 1.27% |
| Price | 3,153.20 | |
| S1 | 3,134.70 | -0.587% |
| S2 | 3,116.59 | -1.16% |
| S3 | 3,087.27 | -2.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,645.25 | 15.60% |
| R2 | 3,411.35 | 8.19% |
| R1 | 3,387.30 | 7.42% |
| Price | 3,153.20 | |
| S1 | 3,115.35 | -1.20% |
| S2 | 3,037.55 | -3.67% |
| S3 | 2,941.25 | -6.72% |
ADANIENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Aug 01, 2024 | ₹1.30 | 0.0412% |
| 2 | Jun 13, 2024 | Jun 13, 2024 | Aug 01, 2024 | ₹1.30 | 0.0412% |
| 3 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ₹1.20 | 0.0504% |
| 4 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ₹1.20 | 0.0499% |
| 5 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ₹1.00 | 0.0420% |
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