Axita Cotton Limited Stock Forecast
Green day on Tuesday for Axita Cotton Limited stock after gaining 0.187%
(Updated on Jun 25, 2024)
The Axita Cotton Limited stock price gained 0.187% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹21.41 to ₹21.45. During the last trading day the stock fluctuated 2.35% from a day low at ₹21.30 to a day high of ₹21.80. The price has risen in 5 of the last 10 days and is up by 0.37% over the past 2 weeks. Volume fell on the last day by -52 thousand shares and in total, 894 thousand shares were bought and sold for approximately ₹19.18 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.76% during the next 3 months and, with a 90% probability hold a price between ₹20.94 and ₹23.31 at the end of this 3-month period.
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AXITA.NS Signals & Forecast
The Axita Cotton Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹21.94. On a fall, the stock will find some support from the long-term average at approximately ₹21.37. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -4.84%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Axita Cotton Limited stock
Axita Cotton Limited finds support from accumulated volume at ₹21.37 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 ₹0.500 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: ₹20.63 (-3.82%) (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 (AXITA.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Axita Cotton Limited to open at ₹21.52, and during the day (based on 14 day Average True Range), to move between ₹20.81 and ₹22.09, which gives a possible trading interval of +/-₹0.635 (+/-2.96%) up or down from last closing price. If Axita Cotton Limited takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.37 (0.37%) than the resistance at ₹22.15 (3.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Axita Cotton Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Axita Cotton Limited stock to perform well in the short-term.
Current score: 3.268 Buy Candidate Unchanged
Predicted Opening Price for Axita Cotton Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹21.52 ( 0.311%) | ₹21.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXITA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.02 | 2.64% |
| R2 | 21.83 | 1.75% |
| R1 | 21.71 | 1.20% |
| Price | 21.45 | |
| S1 | 21.33 | -0.580% |
| S2 | 21.21 | -1.13% |
| S3 | 21.02 | -2.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.54 | 5.08% |
| R2 | 22.27 | 3.82% |
| R1 | 22.15 | 3.26% |
| Price | 21.45 | |
| S1 | 21.37 | -0.373% |
| S2 | 20.10 | -6.29% |
| S3 | 20.00 | -6.76% |
AXITA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 17, 2023 | Nov 17, 2023 | Dec 03, 2023 | ₹0.0750 | 0.304% |
| 2 | Nov 13, 2023 | Nov 13, 2023 | Nov 13, 2023 | ₹0.100 | 0.492% |
| 3 | Sep 19, 2022 | Sep 19, 2022 | Oct 26, 2022 | ₹0.0375 | 0.147% |
FAQ
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