Dhanuka Agritech Limited Stock Forecast
Green day on Tuesday for Dhanuka Agritech Limited
(Updated on Jun 25, 2024)
The Dhanuka Agritech Limited stock price gained 1.14% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹1,687.00 to ₹1,706.15. During the last trading day the stock fluctuated 4.03% from a day low at ₹1,652.35 to a day high of ₹1,719.00. The price has risen in 6 of the last 10 days and is up by 12.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 87 thousand shares were bought and sold for approximately ₹148.45 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 ₹1,706.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 38.73% during the next 3 months and, with a 90% probability hold a price between ₹1,828.16 and ₹2,367.57 at the end of this 3-month period.
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DHANUKA.NS 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 ₹1,638.98 and ₹1,398.38. 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 40.99%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dhanuka Agritech Limited stock
Dhanuka Agritech Limited finds support from accumulated volume at ₹1,622.35 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 ₹66.65 between high and low, or 4.03%. For the last week, the stock has had daily average volatility of 5.81%.
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: ₹1,648.82 (-3.36%) (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 40 days ago.)
Trading Expectations (DHANUKA.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Dhanuka Agritech Limited to open at ₹1,692.50, and during the day (based on 14 day Average True Range), to move between ₹1,621.22 and ₹1,791.08, which gives a possible trading interval of +/-₹84.93 (+/-4.98%) up or down from last closing price. If Dhanuka Agritech Limited takes out the full calculated possible swing range there will be an estimated 9.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,622.35, some ₹83.80 (4.91%) from the current price of ₹1,706.15, our system finds the risk reward attractive.
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: 4.718 Buy Candidate Unchanged
Predicted Opening Price for Dhanuka Agritech Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹1,692.50 ( 0.80%) | ₹1,706.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHANUKA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,759.15 | 3.11% |
| R2 | 1,733.69 | 1.61% |
| R1 | 1,717.96 | 0.692% |
| Price | 1,706.15 | |
| S1 | 1,667.04 | -2.29% |
| S2 | 1,651.31 | -3.21% |
| S3 | 1,625.85 | -4.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,706.15 | |
| S1 | 1,622.35 | -4.91% |
| S2 | 1,577.00 | -7.57% |
| S3 | 1,521.70 | -10.81% |
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 | 0.766% |
| 3 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | ₹2.00 | 0.258% |
| 4 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ₹6.00 | 0.85% |
| 5 | Feb 10, 2022 | Feb 10, 2022 | Feb 10, 2022 | ₹8.00 | 1.04% |
FAQ
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