Anik Industries Limited Stock Forecast
Green day on Tuesday for Anik Industries Limited stock after gaining 3.92%
(Updated on Jun 25, 2024)
The Anik Industries Limited stock price gained 3.92% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹50.83 to ₹52.82. During the last trading day the stock fluctuated 5.85% from a day low at ₹50.25 to a day high of ₹53.19. The price has risen in 6 of the last 10 days and is up by 8.17% 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, 7 thousand more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately ₹2.38 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.15% during the next 3 months and, with a 90% probability hold a price between ₹43.09 and ₹56.38 at the end of this 3-month period.
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ANIKINDS.NS Signals & Forecast
The Anik Industries 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 ₹52.56 and ₹50.47. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, June 18, 2024, and so far it has fallen -1.34%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Anik Industries Limited stock
Anik Industries Limited finds support from accumulated volume at ₹52.00 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 ₹2.94 between high and low, or 5.85%. For the last week, the stock has had daily average volatility of 6.56%.
Our recommended stop-loss: ₹50.80 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (ANIKINDS.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Anik Industries Limited to open at ₹52.09, and during the day (based on 14 day Average True Range), to move between ₹49.62 and ₹56.02, which gives a possible trading interval of +/-₹3.20 (+/-6.05%) up or down from last closing price. If Anik Industries Limited takes out the full calculated possible swing range there will be an estimated 12.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹53.54 (1.36%) than the support at ₹52.00 (1.55%), 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 Anik Industries Limited stock A Buy?
Anik Industries 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: 0.997 Hold/Accumulate Unchanged
Predicted Opening Price for Anik Industries Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹52.09 ( 1.39%) | ₹52.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANIKINDS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.03 | 4.18% |
| R2 | 53.90 | 2.05% |
| R1 | 53.21 | 0.738% |
| Price | 52.82 | |
| S1 | 50.96 | -3.51% |
| S2 | 50.27 | -4.83% |
| S3 | 49.15 | -6.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.60 | 10.94% |
| R2 | 56.80 | 7.54% |
| R1 | 53.54 | 1.36% |
| Price | 52.82 | |
| S1 | 52.00 | -1.55% |
| S2 | 51.98 | -1.59% |
| S3 | 42.05 | -20.39% |
ANIKINDS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 06, 2010 | Sep 24, 2010 | Oct 30, 2010 | ₹0.600 | 1.04% |
| 2 | Sep 04, 2009 | Sep 24, 2009 | Nov 01, 2009 | ₹0.600 | 1.04% |
| 3 | Sep 04, 2008 | Sep 24, 2008 | Nov 01, 2008 | ₹1.20 | 4.84% |
FAQ
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