Dhanlaxmi Bank Limited Stock Forecast
Red day on Thursday for Dhanlaxmi Bank Limited stock after losing 2.40%
(Updated on Jun 27, 2024)
The Dhanlaxmi Bank Limited stock price fell by -2.40% on the last day (Thursday, 27th Jun 2024) from ₹43.40 to ₹42.36. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.16% from a day low at ₹41.23 to a day high of ₹43.77. The price has been going up and down for this period, and there has been a 0.07% gain for the last 2 weeks. Volume has increased on the last day by 922 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ₹68.89 million.
The stock lies in the middle of a 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 -7.55% during the next 3 months and, with a 90% probability hold a price between ₹35.71 and ₹42.43 at the end of this 3-month period.
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DHANBANK.NS Signals & Forecast
The Dhanlaxmi Bank Limited 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 ₹43.63. On a fall, the stock will find some support from the long-term average at approximately ₹42.35. 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 -5.61%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Dhanlaxmi Bank Limited stock
Dhanlaxmi Bank Limited finds support from accumulated volume at ₹42.10 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 ₹2.54 between high and low, or 6.16%. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: ₹40.98 (-3.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (DHANBANK.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Dhanlaxmi Bank Limited to open at ₹42.45, and during the day (based on 14 day Average True Range), to move between ₹40.71 and ₹44.01, which gives a possible trading interval of +/-₹1.65 (+/-3.90%) up or down from last closing price. If Dhanlaxmi Bank Limited takes out the full calculated possible swing range there will be an estimated 7.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹42.10 (0.61%) than the resistance at ₹42.75 (0.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dhanlaxmi Bank Limited stock A Buy?
Dhanlaxmi Bank 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: -0.097 Hold/Accumulate Unchanged
Predicted Opening Price for Dhanlaxmi Bank Limited of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
₹42.45 ( 0.220%) | ₹42.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHANBANK.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 44.99 | 6.22% |
R2 | 44.02 | 3.93% |
R1 | 43.42 | 2.51% |
Price | 42.36 | |
S1 | 41.48 | -2.07% |
S2 | 40.88 | -3.49% |
S3 | 39.91 | -5.78% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 47.95 | 13.20% |
R2 | 44.16 | 4.25% |
R1 | 42.75 | 0.92% |
Price | 42.36 | |
S1 | 42.10 | -0.614% |
S2 | 41.95 | -0.97% |
S3 | 41.65 | -1.68% |
DHANBANK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 23, 2011 | Jun 10, 2011 | Jul 22, 2011 | ₹0.500 | 0.464% |
2 | May 11, 2010 | Jul 07, 2010 | Aug 14, 2010 | ₹0.500 | 0.268% |
3 | Apr 29, 2009 | Jul 16, 2009 | Aug 01, 2009 | ₹1.00 | 0.80% |
4 | Jun 06, 2008 | Sep 11, 2008 | Oct 01, 2008 | ₹0.500 | 0.697% |
5 | May 25, 2006 | Sep 11, 2006 | Sep 28, 2006 | ₹0.360 | 1.73% |
FAQ
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