DHP India Limited Stock Forecast
DHP India Limited stock upgraded to Hold/Accumulate.
(Updated on May 22, 2024)
The DHP India Limited stock price gained 1.30% on the last trading day (Wednesday, 22nd May 2024), rising from ₹709.15 to ₹718.40. During the last trading day the stock fluctuated 2.24% from a day low at ₹704.25 to a day high of ₹720.00. The price has risen in 6 of the last 10 days and is up by 4.06% over the past 2 weeks. Volume fell on the last day by -149 shares and in total, 870 shares were bought and sold for approximately ₹625.01 thousand. 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 the upper part of a falling 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 ₹729.83 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.23% during the next 3 months and, with a 90% probability hold a price between ₹651.95 and ₹713.56 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DHPIND.BO Signals & Forecast
The DHP India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹700.50 and ₹714.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 4.78%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for DHP India Limited stock
DHP India Limited finds support from accumulated volume at ₹707.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹15.75 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 6.10%.
Our recommended stop-loss: ₹684.10 (-4.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (DHPIND.BO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect DHP India Limited to open at ₹714.22, and during the day (based on 14 day Average True Range), to move between ₹687.47 and ₹749.33, which gives a possible trading interval of +/-₹30.93 (+/-4.31%) up or down from last closing price. If DHP India Limited takes out the full calculated possible swing range there will be an estimated 8.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹720.85 (0.34%) than the support at ₹707.95 (1.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is DHP India Limited stock A Buy?
DHP India Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.243 Hold/Accumulate Upgraded
Predicted Opening Price for DHP India Limited of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₹714.22 ( 0.582%) | ₹718.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHPIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 729.97 | 1.61 % | |
| R2 | 723.95 | 0.773 % | ||
| R1 | 720.23 | 0.255 % | ||
| Current price: | 718.40 | |||
| Support | S1 | 708.20 | -1.42 % | |
| S2 | 704.48 | -1.94 % | ||
| S3 | 698.47 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 734.05 | 2.18 % | |
| R2 | 726.80 | 1.17 % | ||
| R1 | 720.85 | 0.341 % | ||
| Current price | 718.40 | |||
| Support | S1 | 707.95 | -1.45% | |
| S2 | 690.35 | -3.90% | ||
| S3 | 689.15 | -4.07% |
DHPIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2023 | Sep 18, 2023 | Oct 25, 2023 | ₹4.00 | 0.482% |
| 2 | Sep 16, 2022 | Sep 16, 2022 | Oct 26, 2022 | ₹4.00 | 0.326% |
| 3 | Sep 17, 2021 | Sep 17, 2021 | Oct 27, 2021 | ₹4.00 | 0.683% |
| 4 | Sep 18, 2020 | Sep 18, 2020 | Oct 28, 2020 | ₹2.50 | 0.714% |
| 5 | Sep 12, 2019 | Sep 12, 2019 | Oct 20, 2019 | ₹2.50 | 0.509% |
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