Deepak Nitrite Ltd. Stock Forecast
Red day on Friday for Deepak Nitrite Ltd. stock after losing 0.454%
(Updated on Jun 28, 2024)
The Deepak Nitrite Ltd. stock price fell by -0.454% on the last day (Friday, 28th Jun 2024) from ₹2,513.35 to ₹2,501.95. During the last trading day the stock fluctuated 1.45% from a day low at ₹2,497.65 to a day high of ₹2,533.80. The price has risen in 6 of the last 10 days and is up by 3.77% over the past 2 weeks. 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 -111 thousand shares and in total, 151 thousand shares were bought and sold for approximately ₹377.18 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.63% during the next 3 months and, with a 90% probability hold a price between ₹2,333.17 and ₹2,842.37 at the end of this 3-month period.
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DEEPAKNTR.NS Signals & Forecast
The Deepak Nitrite Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹2,520.07. On a fall, the stock will find some support from the long-term average at approximately ₹2,393.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -3.97%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Deepak Nitrite Ltd. stock
Deepak Nitrite Ltd. finds support from accumulated volume at ₹2,485.90 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 ₹36.15 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: ₹2,406.43 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (DEEPAKNTR.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Deepak Nitrite Ltd. to open at ₹2,511.13, and during the day (based on 14 day Average True Range), to move between ₹2,426.97 and ₹2,576.93, which gives a possible trading interval of +/-₹74.98 (+/-3.00%) up or down from last closing price. If Deepak Nitrite Ltd. takes out the full calculated possible swing range there will be an estimated 5.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,505.25 (0.13%) than the support at ₹2,485.90 (0.64%), 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.
Is Deepak Nitrite Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Deepak Nitrite Ltd. stock to perform well in the short-term.
Current score: 1.765 Buy Candidate Unchanged
Predicted Opening Price for Deepak Nitrite Ltd. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹2,511.13 ( 0.367%) | ₹2,501.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DEEPAKNTR.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2,547.28 | 1.81% |
R2 | 2,533.47 | 1.26% |
R1 | 2,524.94 | 0.92% |
Price | 2,501.95 | |
S1 | 2,497.32 | -0.185% |
S2 | 2,488.79 | -0.526% |
S3 | 2,474.98 | -1.08% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2,605.25 | 4.13% |
R2 | 2,564.05 | 2.48% |
R1 | 2,505.25 | 0.132% |
Price | 2,501.95 | |
S1 | 2,485.90 | -0.641% |
S2 | 2,299.45 | -8.09% |
S3 | 2,184.45 | -12.69% |
DEEPAKNTR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹7.50 | 0.379% |
2 | Jul 25, 2022 | Jul 25, 2022 | Jul 25, 2022 | ₹7.00 | 0.378% |
3 | Jul 20, 2021 | Jul 20, 2021 | Jul 20, 2021 | ₹1.00 | 0.0524% |
4 | Mar 04, 2020 | Mar 16, 2020 | Mar 21, 2020 | ₹4.50 | 1.19% |
5 | May 03, 2019 | Jun 19, 2019 | Jul 28, 2019 | ₹2.00 | 0.705% |
FAQ
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