Deccan Cements Limited Stock Forecast
Deccan Cements Limited stock price ended at ₹696.70 on Friday, after gaining 2.58%.
(Updated on Jun 14, 2024)
The Deccan Cements Limited stock price gained 2.58% on the last trading day (Friday, 14th Jun 2024), rising from ₹679.20 to ₹696.70. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.41% from a day low at ₹693.15 to a day high of ₹723.70. The price has risen in 9 of the last 10 days and is up by 22.21% over the past 2 weeks. Volume fell on the last day by -309 shares and in total, 11 thousand shares were bought and sold for approximately ₹7.52 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 has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹656.23, a level that may pose a second chance to hit a runner. According to fan-theory ₹743.98 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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DECCANCE.BO Signals & Forecast
The Deccan Cements 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 ₹654.10 and ₹616.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 23.41%. 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 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.
Support, Risk & Stop-loss for Deccan Cements Limited stock
Deccan Cements Limited finds support from accumulated volume at ₹679.20 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 ₹30.55 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 3.66%.
Since the Deccan Cements Limited has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹675.38 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (DECCANCE.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Deccan Cements Limited to open at ₹704.52, and during the day (based on 14 day Average True Range), to move between ₹670.74 and ₹722.66, which gives a possible trading interval of +/-₹25.96 (+/-3.73%) up or down from last closing price. If Deccan Cements Limited takes out the full calculated possible swing range there will be an estimated 7.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹679.20, some ₹17.50 (2.51%) from the current price of ₹696.70, our system finds the risk reward attractive.
Is Deccan Cements Limited stock A Buy?
Deccan Cements 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Deccan Cements Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹704.52 ( 1.12%) | ₹696.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DECCANCE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 735.07 | 5.51% |
| R2 | 723.40 | 3.83% |
| R1 | 716.19 | 2.80% |
| Price | 696.70 | |
| S1 | 692.85 | -0.553% |
| S2 | 685.64 | -1.59% |
| S3 | 673.97 | -3.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 696.70 | |
| S1 | 679.20 | -2.51% |
| S2 | 678.65 | -2.59% |
| S3 | 644.35 | -7.51% |
DECCANCE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 13, 2023 | ₹3.75 | 0.668% |
| 2 | Sep 08, 2022 | Sep 08, 2022 | Sep 27, 2022 | ₹5.00 | 0.98% |
| 3 | Aug 03, 2017 | Aug 03, 2017 | Aug 31, 2017 | ₹6.00 | 1.08% |
| 4 | Mar 22, 2016 | Mar 22, 2016 | Mar 22, 2016 | ₹5.00 | 1.67% |
| 5 | Sep 14, 2015 | Sep 14, 2015 | Sep 14, 2015 | ₹2.50 | 1.12% |
FAQ
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