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 price down 1.18% on Friday
(Updated on Jun 14, 2024)
The Dhanuka Agritech Limited stock price fell by -1.18% on the last day (Friday, 14th Jun 2024) from ₹1,609.25 to ₹1,590.20. During the last trading day the stock fluctuated 4.31% from a day low at ₹1,563.60 to a day high of ₹1,631.05. The price has risen in 6 of the last 10 days and is up by 24.96% over the past 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 -7 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹4.92 million.
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 ₹1,649.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 39.32% during the next 3 months and, with a 90% probability hold a price between ₹1,776.96 and ₹2,298.18 at the end of this 3-month period.
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DHANUKA.BO Signals & Forecast
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 ₹1,526.79 and ₹1,355.07. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 11, 2024, and so far it has fallen -2.17%. Further fall is indicated until a new bottom pivot has been found. 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 ₹1,580.60 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹67.45 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 8.05%.
Our recommended stop-loss: ₹1,525.62 (-4.06%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (DHANUKA.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Dhanuka Agritech Limited to open at ₹1,594.95, and during the day (based on 14 day Average True Range), to move between ₹1,508.47 and ₹1,671.93, which gives a possible trading interval of +/-₹81.73 (+/-5.14%) up or down from last closing price. If Dhanuka Agritech Limited takes out the full calculated possible swing range there will be an estimated 10.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,580.60 (0.60%) than the resistance at ₹1,609.25 (1.20%), 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: 2.889 Buy Candidate Unchanged
Predicted Opening Price for Dhanuka Agritech Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹1,594.95 ( 0.299%) | ₹1,590.20 |
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 | 1,662.40 | 4.54% |
| R2 | 1,636.63 | 2.92% |
| R1 | 1,620.72 | 1.92% |
| Price | 1,590.20 | |
| S1 | 1,569.18 | -1.32% |
| S2 | 1,553.27 | -2.32% |
| S3 | 1,527.50 | -3.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 1,625.50 | 2.22% |
| R1 | 1,609.25 | 1.20% |
| Price | 1,590.20 | |
| S1 | 1,580.60 | -0.604% |
| S2 | 1,523.15 | -4.22% |
| S3 | 1,375.15 | -13.52% |
DHANUKA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Sep 01, 2024 | ₹6.00 | 0.377% |
| 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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