Deccan Cements Limited Stock Forecast
Deccan Cements Limited stock price up 0.452% on Friday
(Updated on May 17, 2024)
The Deccan Cements Limited stock price gained 0.452% on the last trading day (Friday, 17th May 2024), rising from ₹607.95 to ₹610.70. During the last trading day the stock fluctuated 2.48% from a day low at ₹605.00 to a day high of ₹620.00. The price has been going up and down for this period, and there has been a -2.72% loss for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹2.43 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Deccan Cements Limited stock with a 90% probability to be traded between ₹553.35 and ₹653.30 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DECCANCE.NS Signals & Forecast
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. The Deccan Cements 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 ₹610.94 and ₹622.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.31%. 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).
Support, Risk & Stop-loss for Deccan Cements Limited stock
Deccan Cements Limited finds support from accumulated volume at ₹608.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹15.00 between high and low, or 2.48%. For the last week the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DECCANCE.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Deccan Cements Limited to open at ₹611.90, and during the day (based on 14 day Average True Range), to move between ₹592.88 and ₹628.52, which gives a possible trading interval of +/-₹17.82 (+/-2.92%) up or down from last closing price. If Deccan Cements Limited takes out the full calculated possible swing range there will be an estimated 5.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹608.05 (0.43%) than the resistance at ₹615.10 (0.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Deccan Cements Limited will release earnings BMO on Saturday, May 25, 2024. We will update the financials statements for Deccan Cements Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.64% in the first trading day after earnings release.
Is Deccan Cements Limited stock A Buy?
Deccan Cements Limited holds several negative signals and is within a 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: -2.690 Sell Candidate Unchanged
Predicted Opening Price for Deccan Cements Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹611.90 ( 0.196%) | ₹610.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DECCANCE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 626.90 | 2.65 % | |
| R2 | 621.17 | 1.71 % | ||
| R1 | 617.63 | 1.13 % | ||
| Current price: | 610.70 | |||
| Support | S1 | 606.17 | -0.742 % | |
| S2 | 602.63 | -1.32 % | ||
| S3 | 596.90 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 643.85 | 5.43 % | |
| R2 | 639.75 | 4.76 % | ||
| R1 | 615.10 | 0.720 % | ||
| Current price | 610.70 | |||
| Support | S1 | 608.05 | -0.434% | |
| S2 | 582.25 | -4.66% | ||
| S3 | 569.30 | -6.78% |
DECCANCE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | ₹5.00 | 0.91% |
| 2 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | ₹5.00 | 0.667% |
| 3 | Feb 28, 2020 | Mar 12, 2020 | Mar 20, 2020 | ₹4.00 | 1.95% |
| 4 | May 28, 2019 | Jul 31, 2019 | Sep 06, 2019 | ₹3.75 | 1.04% |
| 5 | May 28, 2019 | Jul 30, 2019 | Sep 06, 2019 | ₹3.75 | 1.04% |
FAQ
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