Arvind Limited Stock Forecast
Arvind Limited stock price up 2.42% on Friday
(Updated on May 03, 2024)
The Arvind Limited stock price gained 2.42% on the last trading day (Friday, 3rd May 2024), rising from ₹326.05 to ₹333.95. During the last trading day the stock fluctuated 4.56% from a day low at ₹321.25 to a day high of ₹335.90. The price has been going up and down for this period, and there has been a 7.99% gain for the last 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 83 thousand shares were bought and sold for approximately ₹27.67 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 stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹337.15 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.13% during the next 3 months and, with a 90% probability hold a price between ₹292.26 and ₹364.57 at the end of this 3-month period.
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ARVIND.BO Signals & Forecast
The Arvind 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 ₹320.77 and ₹291.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 12, 2024, and so far it has risen 30.42%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Arvind Limited stock
Arvind Limited finds support from accumulated volume at ₹325.15 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 ₹14.65 between high and low, or 4.56%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: ₹323.73 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (ARVIND.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Arvind Limited to open at ₹330.37, and during the day (based on 14 day Average True Range), to move between ₹319.73 and ₹348.17, which gives a possible trading interval of +/-₹14.22 (+/-4.26%) up or down from last closing price. If Arvind Limited takes out the full calculated possible swing range there will be an estimated 8.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹325.15, some ₹8.80 (2.64%) from the current price of ₹333.95, our system finds the risk reward attractive.
Earnings coming up
Arvind Limited will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Arvind Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.21% in the first trading day after earnings release.
Is Arvind Limited stock A Buy?
Arvind Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.915 Strong Buy Candidate Unchanged
Predicted Opening Price for Arvind Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹330.37 ( 1.07%) | ₹333.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARVIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 345.02 | 3.31 % | |
| R2 | 339.42 | 1.64 % | ||
| R1 | 335.96 | 0.603 % | ||
| Current price: | 333.95 | |||
| Support | S1 | 324.77 | -2.75 % | |
| S2 | 321.31 | -3.78 % | ||
| S3 | 315.72 | -5.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 333.95 | |||
| Support | S1 | 325.15 | -2.64% | |
| S2 | 275.05 | -17.64% | ||
| S3 | 262.85 | -21.29% |
ARVIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Sep 04, 2023 | ₹5.75 | 3.33% |
| 2 | Jul 29, 2019 | Jul 29, 2019 | Sep 29, 2018 | ₹2.40 | 0.753% |
| 3 | Jul 27, 2017 | Jul 27, 2017 | Sep 03, 2017 | ₹2.40 | 0.642% |
| 4 | Jul 28, 2016 | Jul 28, 2016 | Jul 28, 2016 | ₹2.40 | 0.789% |
| 5 | Jul 30, 2015 | Jul 30, 2015 | Jul 30, 2015 | ₹2.55 | 0.798% |
FAQ
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