Dwarikesh Sugar Industries Limited Stock Forecast
Dwarikesh Sugar Industries Limited stock price ended at ₹75.42 on Tuesday, after gaining 2.17%.
(Updated on Jul 02, 2024)
The Dwarikesh Sugar Industries Limited stock price gained 2.17% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹73.82 to ₹75.42. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.20% from a day low at ₹72.91 to a day high of ₹76.70. The price has been going up and down for this period, and there has been a -1.22% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹170.65 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Dwarikesh Sugar Industries Limited stock with a 90% probability to be traded between ₹65.20 and ₹78.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DWARKESH.NS Signals & Forecast
The Dwarikesh Sugar Industries 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 ₹75.07 and ₹72.31. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, June 14, 2024, and so far it has fallen -4.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Dwarikesh Sugar Industries Limited stock
Dwarikesh Sugar Industries Limited finds support from accumulated volume at ₹74.33 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 ₹3.79 between high and low, or 5.20%. For the last week, the stock has had daily average volatility of 3.18%.
Our recommended stop-loss: ₹72.39 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (DWARKESH.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Dwarikesh Sugar Industries Limited to open at ₹75.01, and during the day (based on 14 day Average True Range), to move between ₹72.77 and ₹78.07, which gives a possible trading interval of +/-₹2.65 (+/-3.51%) up or down from last closing price. If Dwarikesh Sugar Industries Limited takes out the full calculated possible swing range there will be an estimated 7.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹74.33 (1.45%) than the resistance at ₹78.08 (3.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dwarikesh Sugar Industries Limited stock A Buy?
Dwarikesh Sugar Industries 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.
Current score: 0.460 Hold/Accumulate Unchanged
Predicted Opening Price for Dwarikesh Sugar Industries Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹75.01 ( 0.544%) | ₹75.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DWARKESH.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.80 | 4.48% |
| R2 | 77.35 | 2.56% |
| R1 | 76.46 | 1.38% |
| Price | 75.42 | |
| S1 | 73.56 | -2.46% |
| S2 | 72.67 | -3.65% |
| S3 | 71.22 | -5.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.66 | 4.30% |
| R2 | 78.43 | 3.99% |
| R1 | 78.08 | 3.53% |
| Price | 75.42 | |
| S1 | 74.33 | -1.45% |
| S2 | 73.95 | -1.95% |
| S3 | 73.00 | -3.21% |
DWARKESH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | ₹2.00 | 2.34% |
| 2 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | ₹2.00 | 1.40% |
| 3 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | ₹1.25 | 1.56% |
| 4 | Jul 12, 2021 | Jul 12, 2021 | Jul 12, 2021 | ₹1.25 | 1.55% |
| 5 | Feb 10, 2020 | Feb 18, 2020 | Mar 11, 2020 | ₹1.00 | 4.80% |
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