Alankit Limited Stock Forecast
Green day on Tuesday for Alankit Limited
(Updated on Apr 30, 2024)
The Alankit Limited stock price gained 1.98% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹18.66 to ₹19.03. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0% from a day low at ₹19.03 to a day high of ₹19.03. The price has risen in 7 of the last 10 days and is up by 11.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 105 thousand shares were bought and sold for approximately ₹1.99 million.
Given the current short-term trend, the stock is expected to fall -11.85% during the next 3 months and, with a 90% probability hold a price between ₹12.58 and ₹16.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ALANKIT.BO Signals & Forecast
Mostly positive signals in the chart today. The Alankit 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 ₹17.96 and ₹17.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 24.14%. 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 Alankit Limited stock
Alankit Limited finds support from accumulated volume at ₹18.93 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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Since the Alankit Limited has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹18.34 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (ALANKIT.BO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Alankit Limited to open at ₹19.03, and during the day (based on 14 day Average True Range), to move between ₹18.56 and ₹19.50, which gives a possible trading interval of +/-₹0.469 (+/-2.46%) up or down from last closing price. If Alankit Limited takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹18.93 (0.53%) than the resistance at ₹19.45 (2.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Alankit Limited will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Alankit Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0% in the first trading day after earnings release.
Is Alankit Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.036 Buy Candidate Unchanged
Predicted Opening Price for Alankit Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₹19.03 ( 0%) | ₹19.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALANKIT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.03 | . | |
| R2 | 19.03 | . | ||
| R1 | 19.03 | . | ||
| Current price: | 19.03 | |||
| Support | S1 | 19.03 | . | |
| S2 | 19.03 | . | ||
| S3 | 19.03 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.03 | 5.25 % | |
| R2 | 19.79 | 3.99 % | ||
| R1 | 19.45 | 2.21 % | ||
| Current price | 19.03 | |||
| Support | S1 | 18.93 | -0.525% | |
| S2 | 18.72 | -1.63% | ||
| S3 | 18.56 | -2.47% |
ALANKIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2022 | Sep 21, 2022 | Oct 29, 2022 | ₹0.200 | 1.75% |
| 2 | Sep 18, 2017 | Sep 18, 2017 | Oct 26, 2017 | ₹0.100 | 0.279% |
| 3 | Feb 08, 2017 | Feb 08, 2017 | Mar 01, 2017 | ₹0.100 | 0.362% |
| 4 | Jul 28, 2016 | Jul 28, 2016 | Jul 28, 2016 | ₹0.200 | 0.612% |
| 5 | Jan 20, 2016 | Jan 20, 2016 | Jan 20, 2016 | ₹0.200 | 1.13% |
FAQ
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