Deccan Cements 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:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
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 Deccan Cements Limited stock price after Wednesday trading.
(Updated on Jun 26, 2024)
The Deccan Cements Limited stock price gained 4.46% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹669.80 to ₹699.65. During the last trading day the stock fluctuated 8.89% from a day low at ₹661.20 to a day high of ₹720.00. The price has been going up and down for this period, and there has been a 5.95% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 86 thousand more shares were traded than the day before. In total, 96 thousand shares were bought and sold for approximately ₹66.93 million.
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 ₹662.74, a level that may pose a second chance to hit a runner. According to fan-theory ₹751.60 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.NS Signals & Forecast
Mostly positive signals in the chart today. 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 ₹685.51 and ₹626.81. 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 23.85%. 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 Deccan Cements Limited stock
Deccan Cements Limited finds support from accumulated volume at ₹697.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹58.80 between high and low, or 8.89%. For the last week, the stock has had daily average volatility of 4.13%.
The Deccan Cements Limited stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹676.42 (-3.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (DECCANCE.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Deccan Cements Limited to open at ₹693.62, and during the day (based on 14 day Average True Range), to move between ₹672.70 and ₹726.60, which gives a possible trading interval of +/-₹26.95 (+/-3.85%) up or down from last closing price. If Deccan Cements Limited takes out the full calculated possible swing range there will be an estimated 7.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹697.55, some ₹2.10 (0.30%) from the current price of ₹699.65, our system finds the risk reward attractive.
Is Deccan Cements Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Deccan Cements Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.635 Strong Buy Candidate Upgraded
Predicted Opening Price for Deccan Cements Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₹693.62 ( 0.86%) | ₹699.65 |
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 | |
---|---|---|
R3 | 752.42 | 7.54% |
R2 | 729.96 | 4.33% |
R1 | 716.08 | 2.35% |
Price | 699.65 | |
S1 | 671.16 | -4.07% |
S2 | 657.28 | -6.06% |
S3 | 634.82 | -9.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 699.65 | |
S1 | 697.55 | -0.300% |
S2 | 677.15 | -3.22% |
S3 | 584.00 | -16.53% |
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 08, 2022 | ₹5.00 | 0.91% |
3 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | ₹5.00 | 0.667% |
4 | Feb 28, 2020 | Mar 12, 2020 | Mar 20, 2020 | ₹4.00 | 1.95% |
5 | May 28, 2019 | Jul 31, 2019 | Sep 06, 2019 | ₹3.75 | 1.04% |
FAQ
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