ESAB India Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
ESAB India Limited stock upgraded from Hold/Accumulate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The ESAB India Limited stock price gained 3.83% on the last trading day (Friday, 14th Jun 2024), rising from ₹5,696.65 to ₹5,915.05. During the last trading day the stock fluctuated 3.96% from a day low at ₹5,704.85 to a day high of ₹5,930.90. The price has been going up and down for this period, and there has been a 11.27% gain 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, 9 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately ₹103.28 million.
The stock lies in the middle of a 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 14.56% during the next 3 months and, with a 90% probability hold a price between ₹6,146.37 and ₹7,141.46 at the end of this 3-month period.
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ESABINDIA.NS Signals & Forecast
The ESAB India 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 ₹5,760.68 and ₹5,566.42. 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 Thursday, May 16, 2024, and so far it has fallen -0.84%. 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 ESAB India Limited stock
ESAB India Limited finds support from accumulated volume at ₹5,738.35 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 ₹226.05 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 3.63%.
Our recommended stop-loss: ₹5,670.01 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (ESABINDIA.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect ESAB India Limited to open at ₹5,850.27, and during the day (based on 14 day Average True Range), to move between ₹5,684.16 and ₹6,145.94, which gives a possible trading interval of +/-₹230.89 (+/-3.90%) up or down from last closing price. If ESAB India Limited takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹5,965.20 (0.85%) than the support at ₹5,738.35 (2.99%), 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 ESAB India Limited stock A Buy?
ESAB India Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.192 Strong Buy Candidate Upgraded
Predicted Opening Price for ESAB India Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹5,850.27 ( 1.10%) | ₹5,915.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESABINDIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6,076.32 | 2.73% |
| R2 | 5,989.97 | 1.27% |
| R1 | 5,936.62 | 0.365% |
| Price | 5,915.05 | |
| S1 | 5,763.92 | -2.56% |
| S2 | 5,710.57 | -3.46% |
| S3 | 5,624.22 | -4.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 5,965.20 | 0.85% |
| Price | 5,915.05 | |
| S1 | 5,738.35 | -2.99% |
| S2 | 5,628.45 | -4.85% |
| S3 | 4,978.10 | -15.84% |
ESABINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 01, 2024 | Aug 01, 2024 | Sep 07, 2024 | ₹30.00 | 0.507% |
| 2 | Apr 05, 2024 | Apr 05, 2024 | Apr 24, 2024 | ₹24.00 | 0.466% |
| 3 | Nov 24, 2023 | Nov 24, 2023 | Dec 08, 2023 | ₹32.00 | 0.552% |
| 4 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹20.00 | 0.426% |
| 5 | Feb 20, 2023 | Feb 20, 2023 | Feb 20, 2023 | ₹28.00 | 0.684% |
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