Engineers India Limited Stock Forecast
Engineers India Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Engineers India Limited stock price gained 4.67% on the last trading day (Friday, 14th Jun 2024), rising from ₹253.80 to ₹265.65. During the last trading day the stock fluctuated 6.72% from a day low at ₹250.80 to a day high of ₹267.65. The price has risen in 6 of the last 10 days and is up by 7.16% over the past 2 weeks. Volume fell on the last day by -218 thousand shares and in total, 445 thousand shares were bought and sold for approximately ₹118.15 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 very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 28.36% during the next 3 months and, with a 90% probability hold a price between ₹288.45 and ₹385.89 at the end of this 3-month period.
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ENGINERSIN.BO Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -5.90%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Engineers 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 ₹244.66 and ₹245.29. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Engineers India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹245.25 and ₹236.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Engineers India Limited finds support just below today's level at ₹245.25. If this is broken, then the next support from accumulated volume will be at ₹236.85 and ₹216.70.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹16.85 between high and low, or 6.72%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: ₹250.99 (-5.52%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 55 days ago.)
Trading Expectations (ENGINERSIN.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Engineers India Limited to open at ₹261.37, and during the day (based on 14 day Average True Range), to move between ₹248.58 and ₹282.72, which gives a possible trading interval of +/-₹17.07 (+/-6.43%) up or down from last closing price. If Engineers India Limited takes out the full calculated possible swing range there will be an estimated 12.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹269.10 (1.30%) than the support at ₹245.25 (7.68%), 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 Engineers India Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.256 Buy Candidate Upgraded
Predicted Opening Price for Engineers India Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹261.37 ( 1.61%) | ₹265.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENGINERSIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 278.22 | 4.73% |
| R2 | 271.78 | 2.31% |
| R1 | 267.80 | 0.81% |
| Price | 265.65 | |
| S1 | 254.93 | -4.04% |
| S2 | 250.95 | -5.53% |
| S3 | 244.52 | -7.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 282.30 | 6.27% |
| R2 | 269.70 | 1.52% |
| R1 | 269.10 | 1.30% |
| Price | 265.65 | |
| S1 | 245.25 | -7.68% |
| S2 | 236.85 | -10.84% |
| S3 | 216.70 | -18.43% |
ENGINERSIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 12, 2024 | Mar 03, 2024 | ₹2.00 | 0.92% |
| 2 | Aug 25, 2023 | Aug 25, 2023 | Oct 15, 2023 | ₹1.00 | 0.714% |
| 3 | Feb 13, 2023 | Feb 13, 2023 | Mar 05, 2023 | ₹2.00 | 2.65% |
| 4 | Mar 19, 2018 | Mar 19, 2018 | Apr 11, 2018 | ₹2.50 | 1.56% |
| 5 | Sep 11, 2017 | Sep 11, 2017 | Oct 19, 2017 | ₹0.500 | 0.333% |
FAQ
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