Coral India Finance and Housing Limited Stock Forecast
Red day on Friday for Coral India Finance and Housing Limited
(Updated on May 10, 2024)
The Coral India Finance and Housing Limited stock price fell by -1.89% on the last day (Friday, 10th May 2024) from ₹39.60 to ₹38.85. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.93% from a day low at ₹38.85 to a day high of ₹39.60. The price has fallen in 7 of the last 10 days and is down by -10.89% for this period. 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 -5 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹271.10 thousand.
The stock lies the upper part of a very wide and falling 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 ₹41.09 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -26.61% during the next 3 months and, with a 90% probability hold a price between ₹21.87 and ₹30.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CORALFINAC.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Coral India Finance and Housing Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹40.77 and ₹42.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -17.43%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Coral India Finance and Housing Limited stock
Coral India Finance and Housing Limited finds support from accumulated volume at ₹37.00 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.750 between high and low, or 1.93%. For the last week the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CORALFINAC.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Coral India Finance and Housing Limited to open at ₹39.10, and during the day (based on 14 day Average True Range), to move between ₹37.88 and ₹39.82, which gives a possible trading interval of +/-₹0.97 (+/-2.49%) up or down from last closing price. If Coral India Finance and Housing Limited takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹40.65 (4.63%) than the support at ₹37.00 (4.76%), 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.
Earnings coming up
Coral India Finance and Housing Limited will release earnings BMO on Thursday, May 16, 2024. We will update the financials statements for Coral India Finance and Housing Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.66% in the first trading day after earnings release.
Is Coral India Finance and Housing Limited stock A Buy?
Coral India Finance and Housing Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.905 Sell Candidate Unchanged
Predicted Opening Price for Coral India Finance and Housing Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹39.10 ( 0.644%) | ₹38.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CORALFINAC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.85 | 2.57 % | |
| R2 | 39.56 | 1.84 % | ||
| R1 | 39.39 | 1.38 % | ||
| Current price: | 38.85 | |||
| Support | S1 | 38.81 | -0.0940 % | |
| S2 | 38.64 | -0.550 % | ||
| S3 | 38.35 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.40 | 6.56 % | |
| R2 | 41.10 | 5.79 % | ||
| R1 | 40.65 | 4.63 % | ||
| Current price | 38.85 | |||
| Support | S1 | 37.00 | -4.76% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CORALFINAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | ₹0.300 | 0.83% |
| 2 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ₹0.300 | 0.81% |
| 3 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | ₹0.300 | 0.743% |
| 4 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹0.500 | 1.27% |
| 5 | Aug 28, 2020 | Aug 28, 2020 | Aug 28, 2020 | ₹0.200 | 0.95% |
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