De Nora India Limited Stock Forecast
De Nora India Limited stock price ended at ₹1,760.05 on Tuesday, after gaining 2.23%.
(Updated on Jun 25, 2024)
The De Nora India Limited stock price gained 2.23% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹1,721.70 to ₹1,760.05. During the last trading day the stock fluctuated 4.42% from a day low at ₹1,713.35 to a day high of ₹1,789.00. The price has risen in 7 of the last 10 days and is up by 13.99% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 47 thousand shares were bought and sold for approximately ₹82.20 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 lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.91% during the next 3 months and, with a 90% probability hold a price between ₹1,328.96 and ₹1,796.53 at the end of this 3-month period.
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DENORA.NS Signals & Forecast
Mostly positive signals in the chart today. The De Nora India 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 ₹1,677.97 and ₹1,573.29. 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 23.92%. 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 De Nora India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,628.10 and ₹1,617.80. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, De Nora India Limited finds support just below today's level at ₹1,628.10. If this is broken, then the next support from accumulated volume will be at ₹1,617.80 and ₹1,555.35.
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 ₹75.65 between high and low, or 4.42%. For the last week, the stock has had daily average volatility of 4.73%.
The De Nora India Limited stock is extremely overbought on RSI14 (88). This increases the short-term risk substantially.
Our recommended stop-loss: ₹1,711.82 (-2.74%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (DENORA.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect De Nora India Limited to open at ₹1,754.13, and during the day (based on 14 day Average True Range), to move between ₹1,690.28 and ₹1,829.82, which gives a possible trading interval of +/-₹69.77 (+/-3.96%) up or down from last closing price. If De Nora India Limited takes out the full calculated possible swing range there will be an estimated 7.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,774.65 (0.83%) than the support at ₹1,628.10 (7.50%), 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 De Nora India Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.430 Buy Candidate Unchanged
Predicted Opening Price for De Nora India Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹1,754.13 ( 0.336%) | ₹1,760.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DENORA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,829.78 | 3.96% |
| R2 | 1,800.89 | 2.32% |
| R1 | 1,783.03 | 1.31% |
| Price | 1,760.05 | |
| S1 | 1,725.24 | -1.98% |
| S2 | 1,707.38 | -2.99% |
| S3 | 1,678.48 | -4.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,949.50 | 10.76% |
| R2 | 1,888.35 | 7.29% |
| R1 | 1,774.65 | 0.83% |
| Price | 1,760.05 | |
| S1 | 1,628.10 | -7.50% |
| S2 | 1,617.80 | -8.08% |
| S3 | 1,555.35 | -11.63% |
DENORA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Oct 12, 2023 | ₹2.00 | 0.135% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹1.00 | 0.124% |
| 3 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹1.00 | 0.295% |
| 4 | May 08, 2018 | Sep 18, 2018 | Oct 15, 2018 | ₹1.00 | 0.379% |
| 5 | May 08, 2017 | Sep 19, 2017 | Oct 16, 2017 | ₹2.00 | 0.82% |
FAQ
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