Dhanuka Agritech Limited Stock Forecast
Red day on Thursday for Dhanuka Agritech Limited stock after losing 0.148%
(Updated on May 23, 2024)
The Dhanuka Agritech Limited stock price fell by -0.148% on the last day (Thursday, 23rd May 2024) from ₹1,283.40 to ₹1,281.50. During the last trading day the stock fluctuated 2.21% from a day low at ₹1,266.05 to a day high of ₹1,294.00. The price has been going up and down for this period, and there has been a -2.11% loss for the last 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 -764 shares and in total, 2 thousand shares were bought and sold for approximately ₹2.33 million.
The stock lies in the lower part of a 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 ₹1,236.44 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 36.02% during the next 3 months and, with a 90% probability hold a price between ₹1,681.81 and ₹2,082.49 at the end of this 3-month period.
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DHANUKA.BO Signals & Forecast
The Dhanuka Agritech 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 ₹1,306.99. On a fall, the stock will find some support from the long-term average at approximately ₹1,262.96. 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. 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, April 26, 2024, and so far it has fallen -8.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Dhanuka Agritech Limited stock
Dhanuka Agritech Limited finds support from accumulated volume at ₹1,271.55 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 ₹27.95 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 4.47%.
Our recommended stop-loss: ₹1,201.02 (-6.28%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (DHANUKA.BO) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Dhanuka Agritech Limited to open at ₹1,280.52, and during the day (based on 14 day Average True Range), to move between ₹1,224.39 and ₹1,338.61, which gives a possible trading interval of +/-₹57.11 (+/-4.46%) up or down from last closing price. If Dhanuka Agritech Limited takes out the full calculated possible swing range there will be an estimated 8.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,271.55 (0.78%) than the resistance at ₹1,350.20 (5.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dhanuka Agritech 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 Dhanuka Agritech Limited stock to perform well in the short-term.
Current score: 3.016 Buy Candidate Unchanged
Predicted Opening Price for Dhanuka Agritech Limited of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
₹1,280.52 ( 0.0767%) | ₹1,281.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHANUKA.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,308.47 | 2.10 % | |
R2 | 1,297.79 | 1.27 % | ||
R1 | 1,291.19 | 0.756 % | ||
Current price: | 1,281.50 | |||
Support | S1 | 1,269.84 | -0.91 % | |
S2 | 1,263.24 | -1.42 % | ||
S3 | 1,252.57 | -2.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,405.70 | 9.69 % | |
R2 | 1,375.15 | 7.31 % | ||
R1 | 1,350.20 | 5.36 % | ||
Current price | 1,281.50 | |||
Support | S1 | 1,271.55 | -0.776% | |
S2 | 1,220.20 | -4.78% | ||
S3 | 1,173.45 | -8.43% |
DHANUKA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 19, 2024 | Jul 19, 2024 | Sep 01, 2024 | ₹6.00 | 0.468% |
2 | Feb 14, 2024 | Feb 14, 2024 | Mar 03, 2024 | ₹8.00 | 0.761% |
3 | Jul 21, 2023 | Jul 21, 2023 | Sep 01, 2023 | ₹2.00 | 0.253% |
4 | Jul 21, 2022 | Jul 21, 2022 | Sep 01, 2022 | ₹6.00 | 0.82% |
5 | Feb 23, 2018 | Feb 23, 2018 | Mar 16, 2018 | ₹2.00 | 0.338% |
FAQ
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