DCB Bank Limited Stock Forecast
DCB Bank Limited stock price up 1.79% on Tuesday
(Updated on Apr 16, 2024)
The DCB Bank Limited stock price gained 1.79% on the last trading day (Tuesday, 16th Apr 2024), rising from ₹120.40 to ₹122.55. During the last trading day the stock fluctuated 3.61% from a day low at ₹119.10 to a day high of ₹123.40. The price has fallen in 7 of the last 10 days and is down by -4.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 750 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹248.05 million.
The stock lies the upper part of a 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 ₹125.79 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 -16.06% during the next 3 months and, with a 90% probability hold a price between ₹88.66 and ₹105.59 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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DCBBANK.NS Signals & Forecast
There are mixed signals in the stock today. The DCB Bank 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 ₹123.81 and ₹124.67. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 7.22%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for DCB Bank Limited stock
DCB Bank Limited finds support from accumulated volume at ₹120.75 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 ₹4.30 between high and low, or 3.61%. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: ₹115.72 (-5.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (DCBBANK.NS) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect DCB Bank Limited to open at ₹121.68, and during the day (based on 14 day Average True Range), to move between ₹118.77 and ₹126.33, which gives a possible trading interval of +/-₹3.78 (+/-3.09%) up or down from last closing price. If DCB Bank Limited takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹120.75 (1.47%) than the resistance at ₹135.25 (10.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DCB Bank Limited stock A Buy?
DCB Bank 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: -0.276 Hold/Accumulate Unchanged
Predicted Opening Price for DCB Bank Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ₹121.68 ( 0.707%) | ₹122.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DCBBANK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 125.98 | 2.80 % | |
| R2 | 124.34 | 1.46 % | ||
| R1 | 123.33 | 0.633 % | ||
| Current price: | 122.55 | |||
| Support | S1 | 120.04 | -2.05 % | |
| S2 | 119.03 | -2.88 % | ||
| S3 | 117.38 | -4.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 149.85 | 22.28 % | |
| R2 | 138.35 | 12.89 % | ||
| R1 | 135.25 | 10.36 % | ||
| Current price | 122.55 | |||
| Support | S1 | 120.75 | -1.47% | |
| S2 | 119.40 | -2.57% | ||
| S3 | 114.30 | -6.73% |
DCBBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | ₹1.25 | 1.04% |
| 2 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | ₹1.00 | 1.28% |
| 3 | Apr 18, 2019 | May 23, 2019 | Jul 01, 2019 | ₹1.00 | 0.423% |
| 4 | Apr 14, 2018 | May 24, 2018 | Jul 02, 2018 | ₹0.750 | 0.459% |
| 5 | Apr 14, 2017 | May 24, 2017 | Jul 01, 2017 | ₹0.500 | 0.252% |
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