DLF Limited Stock Forecast
Evaluation of DLF Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The DLF Limited stock price gained 0.748% on the last trading day (Friday, 17th May 2024), rising from ₹842.60 to ₹848.90. During the last trading day the stock fluctuated 2.21% from a day low at ₹841.00 to a day high of ₹859.60. The price has been going up and down for this period, and there has been a -3.32% loss for the last 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 126 thousand shares were bought and sold for approximately ₹107.02 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 middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.67% during the next 3 months and, with a 90% probability hold a price between ₹771.01 and ₹895.66 at the end of this 3-month period.
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DLF.BO Signals & Forecast
There are mixed signals in the stock today. The DLF Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹878.94. On a fall, the stock will find some support from the short-term average at ₹836.89. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 2.80%. Further rise is indicated until a new top pivot has been found. 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.
A buy signal from a double bottom formation was found on Friday, May 10, 2024 and based on theory for this formation the price should go up by 9.64% to ₹930.76 within 32 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for DLF Limited stock
DLF Limited finds support from accumulated volume at ₹842.60 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 ₹18.60 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DLF.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect DLF Limited to open at ₹849.83, and during the day (based on 14 day Average True Range), to move between ₹821.97 and ₹875.83, which gives a possible trading interval of +/-₹26.93 (+/-3.17%) up or down from last closing price. If DLF Limited takes out the full calculated possible swing range there will be an estimated 6.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹842.60 (0.74%) than the resistance at ₹886.75 (4.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DLF Limited stock A Buy?
DLF Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.598 Sell Candidate Downgraded
Predicted Opening Price for DLF Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹849.83 ( 0.110%) | ₹848.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLF.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 868.43 | 2.30 % | |
| R2 | 861.33 | 1.46 % | ||
| R1 | 856.94 | 0.95 % | ||
| Current price: | 848.90 | |||
| Support | S1 | 842.73 | -0.727 % | |
| S2 | 838.34 | -1.24 % | ||
| S3 | 831.23 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 948.45 | 11.73 % | |
| R2 | 917.85 | 8.12 % | ||
| R1 | 886.75 | 4.46 % | ||
| Current price | 848.90 | |||
| Support | S1 | 842.60 | -0.742% | |
| S2 | 838.90 | -1.18% | ||
| S3 | 830.15 | -2.21% |
DLF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Sep 02, 2023 | ₹4.00 | 0.794% |
| 2 | Aug 02, 2022 | Aug 02, 2022 | Sep 08, 2022 | ₹3.00 | 0.755% |
| 3 | Mar 27, 2018 | Mar 27, 2018 | Mar 29, 2018 | ₹1.20 | 0.595% |
| 4 | Sep 19, 2017 | Sep 19, 2017 | Oct 28, 2017 | ₹2.00 | 1.08% |
| 5 | Mar 28, 2016 | Mar 28, 2016 | Mar 28, 2016 | ₹2.00 | 1.88% |
FAQ
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