Dwarikesh Sugar Industries Limited Stock Forecast
Dwarikesh Sugar Industries Limited stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)
The Dwarikesh Sugar Industries Limited stock price fell by -0.139% on the last day (Thursday, 18th Apr 2024) from ₹72.15 to ₹72.05. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.88% from a day low at ₹71.90 to a day high of ₹73.25. The price has fallen in 7 of the last 10 days and is down by -6.12% for this period. Volume has increased on the last day by 127 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 953 thousand shares were bought and sold for approximately ₹68.65 million.
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 -12.56% during the next 3 months and, with a 90% probability hold a price between ₹58.66 and ₹67.66 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DWARKESH.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 3.67%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dwarikesh Sugar Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹74.94 and ₹77.33. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Dwarikesh Sugar Industries Limited stock
Dwarikesh Sugar Industries Limited finds support from accumulated volume at ₹69.50 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 ₹1.35 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: ₹68.76 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (DWARKESH.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Dwarikesh Sugar Industries Limited to open at ₹72.40, and during the day (based on 14 day Average True Range), to move between ₹69.42 and ₹74.68, which gives a possible trading interval of +/-₹2.63 (+/-3.65%) 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 7.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹69.50 (3.54%) than the resistance at ₹81.90 (13.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Dwarikesh Sugar Industries Limited will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Dwarikesh Sugar Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.03% in the first trading day after earnings release.
Is Dwarikesh Sugar Industries Limited stock A Buy?
Dwarikesh Sugar Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.641 Hold/Accumulate Upgraded
Predicted Opening Price for Dwarikesh Sugar Industries Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹72.40 ( 0.486%) | ₹72.05 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 73.75 | 2.36 % | |
| R2 | 73.23 | 1.64 % | ||
| R1 | 72.92 | 1.20 % | ||
| Current price: | 72.05 | |||
| Support | S1 | 71.88 | -0.230 % | |
| S2 | 71.57 | -0.672 % | ||
| S3 | 71.05 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.10 | 19.50 % | |
| R2 | 84.50 | 17.28 % | ||
| R1 | 81.90 | 13.67 % | ||
| Current price | 72.05 | |||
| Support | S1 | 69.50 | -3.54% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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% |
FAQ
Click here for our free guide on how to buy Dwarikesh Sugar Industries Limited Stock.
