Carborundum Universal Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Carborundum Universal Limited stock price after Friday trading.
(Updated on May 03, 2024)
The Carborundum Universal Limited stock price fell by -4.32% on the last day (Friday, 3rd May 2024) from ₹1,506.60 to ₹1,441.45. During the last trading day the stock fluctuated 6.23% from a day low at ₹1,425.10 to a day high of ₹1,513.90. The price has risen in 7 of the last 10 days and is up by 15.21% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -486 thousand shares and in total, 202 thousand shares were bought and sold for approximately ₹290.99 million.
The stock lies in the middle of a wide and strong 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 30.78% during the next 3 months and, with a 90% probability hold a price between ₹1,651.17 and ₹1,978.07 at the end of this 3-month period.
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CARBORUNIV.NS Signals & Forecast
The Carborundum Universal 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 ₹1,441.74. On a fall, the stock will find some support from the long-term average at approximately ₹1,274.17. 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). 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 Thursday, May 02, 2024, and so far it has fallen -4.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Carborundum Universal Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,341.10 and ₹1,248.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Carborundum Universal Limited finds support just below today's level at ₹1,341.10. If this is broken, then the next support from accumulated volume will be at ₹1,248.90 and ₹1,089.90.
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 ₹88.80 between high and low, or 6.23%. For the last week, the stock has had daily average volatility of 4.94%.
Our recommended stop-loss: ₹1,366.74 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CARBORUNIV.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Carborundum Universal Limited to open at ₹1,460.15, and during the day (based on 14 day Average True Range), to move between ₹1,383.91 and ₹1,498.99, which gives a possible trading interval of +/-₹57.54 (+/-3.99%) up or down from last closing price. If Carborundum Universal Limited takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,444.15 (0.19%) than the support at ₹1,341.10 (6.96%), 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 Carborundum Universal 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 Carborundum Universal Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.233 Buy Candidate Upgraded
Predicted Opening Price for Carborundum Universal Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹1,460.15 ( 1.30%) | ₹1,441.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARBORUNIV.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,548.95 | 7.46 % | |
| R2 | 1,515.03 | 5.10 % | ||
| R1 | 1,494.07 | 3.65 % | ||
| Current price: | 1,441.45 | |||
| Support | S1 | 1,426.23 | -1.06 % | |
| S2 | 1,405.27 | -2.51 % | ||
| S3 | 1,371.35 | -4.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1,506.60 | 4.52 % | ||
| R1 | 1,444.15 | 0.187 % | ||
| Current price | 1,441.45 | |||
| Support | S1 | 1,341.10 | -6.96% | |
| S2 | 1,248.90 | -13.36% | ||
| S3 | 1,089.90 | -24.39% |
CARBORUNIV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 12, 2024 | Feb 28, 2024 | ₹1.50 | 0.142% |
| 2 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | ₹2.00 | 0.169% |
| 3 | Feb 10, 2023 | Feb 10, 2023 | Feb 10, 2023 | ₹1.50 | 0.148% |
| 4 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ₹2.00 | 0.254% |
| 5 | Feb 21, 2022 | Feb 21, 2022 | Feb 21, 2022 | ₹1.50 | 0.173% |
FAQ
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