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RSI low/high Values: [ 25 - 80 ]
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AI Analysis of DHANFAB.BO
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Red day on Friday for Dhanlaxmi Fabrics Limited
(Updated on Jun 14, 2024)

Buy candidate since Jun 06, 2024 Gain 3.80% PDF

The Dhanlaxmi Fabrics Limited stock price fell by -2.43% on the last day (Friday, 14th Jun 2024) from ₹73.70 to ₹71.91. During the last trading day the stock fluctuated 7.23% from a day low at ₹70.10 to a day high of ₹75.17. The price has been going up and down for this period, and there has been a 1.61% gain for the last 2 weeks. Volume has increased on the last day by 43 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, 1 thousand shares were bought and sold for approximately ₹81.11 thousand.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹68.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 27.33% during the next 3 months and, with a 90% probability hold a price between ₹87.14 and ₹113.20 at the end of this 3-month period.

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DHANFAB.BO Signals & Forecast

The Dhanlaxmi Fabrics 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 ₹73.16. On a fall, the stock will find some support from the long-term average at approximately ₹69.27. 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 Friday, June 07, 2024, and so far it has fallen -5.63%. Further fall is indicated until a new bottom pivot has been found. Dhanlaxmi Fabrics Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Dhanlaxmi Fabrics Limited stock

Dhanlaxmi Fabrics Limited finds support from accumulated volume at ₹71.69 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 ₹5.07 between high and low, or 7.23%. For the last week, the stock has had daily average volatility of 7.54%.

Our recommended stop-loss: ₹68.37 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (DHANFAB.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Dhanlaxmi Fabrics Limited to open at ₹72.39, and during the day (based on 14 day Average True Range), to move between ₹67.41 and ₹76.41, which gives a possible trading interval of +/-₹4.50 (+/-6.25%) up or down from last closing price. If Dhanlaxmi Fabrics Limited takes out the full calculated possible swing range there will be an estimated 12.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹71.69 (0.31%) than the resistance at ₹74.43 (3.50%), 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 Fabrics Limited 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 Dhanlaxmi Fabrics Limited stock to perform well in the short-term.

Current score: 1.296 Buy Candidate Unchanged

Predicted Opening Price for Dhanlaxmi Fabrics Limited of Tuesday, June 18, 2024

Fair opening price June 18, 2024 Current price
₹72.39 ( 0.672%) ₹71.91

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for DHANFAB.BO

Fibonacci Support & Resistance Levels

Level Price
R3 77.46 7.72%
R2 75.53 5.03%
R1 74.33 3.37%
Price 71.91
S1 70.46 -2.02%
S2 69.26 -3.69%
S3 67.32 -6.38%

Accumulated Volume Support & Resistance Levels

Level Price
R3 76.20 5.97%
R2 74.92 4.19%
R1 74.43 3.50%
Price 71.91
S1 71.69 -0.306%
S2 71.04 -1.21%
S3 70.71 -1.67%

DHANFAB Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Sep 11, 2008 Sep 11, 2008 Sep 11, 2008 ₹0.500 1.70%
2 Sep 20, 2007 Sep 20, 2007 Sep 20, 2007 ₹1.40 3.86%
3 Sep 14, 2006 Sep 14, 2006 Sep 14, 2006 ₹1.40 3.58%
4 Sep 08, 2005 Sep 08, 2005 Sep 08, 2005 ₹1.40 2.33%
5 Sep 16, 2004 Sep 16, 2004 Sep 16, 2004 ₹1.00 7.66%

FAQ

What is the symbol for Dhanlaxmi Fabrics Limited Stock and on which exchange is it traded?
The symbol for Dhanlaxmi Fabrics Limited is DHANFAB.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Dhanlaxmi Fabrics Limited Stock?
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 Dhanlaxmi Fabrics Limited stock to perform well in the short-term.

How to buy Dhanlaxmi Fabrics Limited Stock?
Dhanlaxmi Fabrics Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Dhanlaxmi Fabrics Limited Stock.

What's the current price of Dhanlaxmi Fabrics Limited Stock?
As of the end of day on the Jun 14, 2024, the price of an Dhanlaxmi Fabrics Limited (DHANFAB.BO) share was ₹71.91.

What is the 52-week high and low for Dhanlaxmi Fabrics Limited Stock?
The 52-week high for Dhanlaxmi Fabrics Limited Stock is ₹80.00 and the 52-week low is ₹35.45.

What is the market capitalization of Dhanlaxmi Fabrics Limited Stock?
As of the Jun 14, 2024, the market capitalization of Dhanlaxmi Fabrics Limited is 632.427M.
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