Agarwal Industrial Corporation Limited Stock Forecast
Green day on Friday for Agarwal Industrial Corporation Limited stock after gaining 0.437%
(Updated on May 17, 2024)
The Agarwal Industrial Corporation Limited stock price gained 0.437% on the last trading day (Friday, 17th May 2024), rising from ₹904.65 to ₹908.60. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.06% from a day low at ₹896.25 to a day high of ₹914.70. The price has risen in 6 of the last 10 days and is up by 4.58% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 25 thousand shares were bought and sold for approximately ₹23.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹884.03, a level that may pose a second chance to hit a runner. According to fan-theory ₹1,049.04 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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AGARIND.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -0.721%. 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). The Agarwal Industrial Corporation 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 ₹857.19 and ₹853.42. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Agarwal Industrial Corporation Limited stock
Agarwal Industrial Corporation Limited finds support from accumulated volume at ₹895.65 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 ₹18.45 between high and low, or 2.06%. For the last week, the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: ₹877.21 (-3.45%) (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 (AGARIND.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Agarwal Industrial Corporation Limited to open at ₹906.52, and during the day (based on 14 day Average True Range), to move between ₹872.63 and ₹944.57, which gives a possible trading interval of +/-₹35.97 (+/-3.96%) up or down from last closing price. If Agarwal Industrial Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹915.20 (0.73%) than the support at ₹895.65 (1.43%), 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.
Earnings coming up
Agarwal Industrial Corporation Limited will release earnings BMO on Tuesday, May 21, 2024. We will update the financials statements for Agarwal Industrial Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.18% in the first trading day after earnings release.
Is Agarwal Industrial Corporation Limited stock A Buy?
Several short term signals are positive and the break up from the falling indicates a possible shift of trend. We believe prices around the breaking point to be particularly good levels but also believe that the current level will hold a possible good buy level for the short term.
Current score: 1.176 Buy Candidate Unchanged
Predicted Opening Price for Agarwal Industrial Corporation Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹906.52 ( 0.229%) | ₹908.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGARIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 924.97 | 1.80 % | |
| R2 | 917.92 | 1.03 % | ||
| R1 | 913.56 | 0.546 % | ||
| Current price: | 908.60 | |||
| Support | S1 | 899.47 | -1.00 % | |
| S2 | 895.11 | -1.48 % | ||
| S3 | 888.07 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 949.80 | 4.53 % | |
| R2 | 924.35 | 1.73 % | ||
| R1 | 915.20 | 0.726 % | ||
| Current price | 908.60 | |||
| Support | S1 | 895.65 | -1.43% | |
| S2 | 803.90 | -11.52% | ||
| S3 | 802.35 | -11.69% |
AGARIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹2.00 | 0.326% |
| 2 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | ₹1.80 | 0.591% |
| 3 | Sep 22, 2020 | Sep 22, 2020 | Sep 22, 2020 | ₹1.50 | 1.60% |
| 4 | May 30, 2019 | Sep 20, 2019 | Oct 30, 2019 | ₹1.80 | 1.50% |
| 5 | May 30, 2018 | Sep 19, 2018 | Oct 29, 2018 | ₹1.50 | 0.81% |
FAQ
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