Ambika Cotton Mills Limited Stock Forecast
Ambika Cotton Mills Limited stock price ended at ₹1,573.35 on Friday, after gaining 0.0636%.
(Updated on May 03, 2024)
The Ambika Cotton Mills Limited stock price gained 0.0636% on the last trading day (Friday, 3rd May 2024), rising from ₹1,572.35 to ₹1,573.35. It has now gained 4 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 2.31% from a day low at ₹1,544.80 to a day high of ₹1,580.45. The price has been going up and down for this period, and there has been a 1.28% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹3.24 million.
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 ₹1,562.12, a level that may pose a second chance to hit a runner. According to fan-theory ₹1,776.53 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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AMBIKCO.BO Signals & Forecast
The Ambika Cotton Mills 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 ₹1,555.21 and ₹1,533.92. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -2.83%. 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).
Support, Risk & Stop-loss for Ambika Cotton Mills Limited stock
Ambika Cotton Mills Limited finds support from accumulated volume at ₹1,542.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹35.65 between high and low, or 2.31%. For the last week the stock has had daily average volatility of 2.06%.
Our recommended stop-loss: ₹1,508.01 (-4.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (AMBIKCO.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ambika Cotton Mills Limited to open at ₹1,566.20, and during the day (based on 14 day Average True Range), to move between ₹1,530.90 and ₹1,615.80, which gives a possible trading interval of +/-₹42.45 (+/-2.70%) up or down from last closing price. If Ambika Cotton Mills Limited takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,574.15 (0.05%) than the support at ₹1,542.90 (1.94%), 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.
Is Ambika Cotton Mills Limited stock A Buy?
Ambika Cotton Mills Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.316 Hold/Accumulate Unchanged
Predicted Opening Price for Ambika Cotton Mills Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹1,566.20 ( 0.454%) | ₹1,573.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMBIKCO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,601.85 | 1.81 % | |
| R2 | 1,588.23 | 0.95 % | ||
| R1 | 1,579.82 | 0.411 % | ||
| Current price: | 1,573.35 | |||
| Support | S1 | 1,552.58 | -1.32 % | |
| S2 | 1,544.17 | -1.85 % | ||
| S3 | 1,530.55 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,663.85 | 5.75 % | |
| R2 | 1,621.60 | 3.07 % | ||
| R1 | 1,574.15 | 0.0508 % | ||
| Current price | 1,573.35 | |||
| Support | S1 | 1,542.90 | -1.94% | |
| S2 | 1,418.15 | -9.86% | ||
| S3 | 1,414.25 | -10.11% |
AMBIKCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹35.00 | 2.32% |
| 2 | Sep 21, 2022 | Sep 21, 2022 | Oct 29, 2022 | ₹35.00 | 2.16% |
| 3 | Aug 28, 2017 | Aug 28, 2017 | Sep 11, 2017 | ₹10.00 | 0.751% |
| 4 | Mar 18, 2016 | Mar 18, 2016 | Mar 18, 2016 | ₹15.00 | 1.84% |
| 5 | Sep 15, 2015 | Sep 15, 2015 | Sep 15, 2015 | ₹14.00 | 1.76% |
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