Dhanuka Agritech Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Dhanuka Agritech Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Dhanuka Agritech Limited stock price gained 0.96% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹1,687.20 to ₹1,703.35. During the last trading day the stock fluctuated 3.26% from a day low at ₹1,663.75 to a day high of ₹1,718.05. The price has risen in 6 of the last 10 days and is up by 11.83% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹10.02 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 upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹1,733.38 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 39.11% during the next 3 months and, with a 90% probability hold a price between ₹1,848.59 and ₹2,411.29 at the end of this 3-month period.
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DHANUKA.BO Signals & Forecast
Mostly positive signals in the chart today. The Dhanuka Agritech 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 ₹1,638.60 and ₹1,399.92. 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 40.63%. 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 Dhanuka Agritech Limited stock
Dhanuka Agritech Limited finds support from accumulated volume at ₹1,625.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹54.30 between high and low, or 3.26%. For the last week, the stock has had daily average volatility of 5.25%.
The Dhanuka Agritech Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹1,654.63 (-2.86%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (DHANUKA.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Dhanuka Agritech Limited to open at ₹1,695.05, and during the day (based on 14 day Average True Range), to move between ₹1,620.29 and ₹1,786.41, which gives a possible trading interval of +/-₹83.06 (+/-4.88%) up or down from last closing price. If Dhanuka Agritech Limited takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,625.50, some ₹77.85 (4.57%) from the current price of ₹1,703.35, our system finds the risk reward attractive.
Is Dhanuka Agritech Limited stock A Buy?
Dhanuka Agritech Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.182 Strong Buy Candidate Upgraded
Predicted Opening Price for Dhanuka Agritech Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹1,695.05 ( 0.487%) | ₹1,703.35 |
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 | |
|---|---|---|
| R3 | 1,749.35 | 2.70% |
| R2 | 1,728.61 | 1.48% |
| R1 | 1,715.79 | 0.730% |
| Price | 1,703.35 | |
| S1 | 1,674.31 | -1.71% |
| S2 | 1,661.49 | -2.46% |
| S3 | 1,640.75 | -3.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,703.35 | |
| S1 | 1,625.50 | -4.57% |
| S2 | 1,580.60 | -7.21% |
| S3 | 1,523.15 | -10.58% |
DHANUKA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Sep 01, 2024 | ₹6.00 | 0.352% |
| 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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