Ester Industries Limited Stock Forecast
Ester Industries Limited stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 31, 2024)
The Ester Industries Limited stock price fell by -0.268% on the last day (Friday, 31st May 2024) from ₹111.85 to ₹111.55. During the last trading day the stock fluctuated 4.82% from a day low at ₹110.05 to a day high of ₹115.35. The price has fallen in 7 of the last 10 days and is down by -9.31% for this period. Volume has increased on the last day by 8 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, 29 thousand shares were bought and sold for approximately ₹3.18 million.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹113.12. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ESTER.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 0.180%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ester Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹115.82 and ₹114.88. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Ester Industries Limited stock
Ester Industries Limited finds support from accumulated volume at ₹109.78 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 ₹5.30 between high and low, or 4.82%. For the last week, the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESTER.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Ester Industries Limited to open at ₹112.32, and during the day (based on 14 day Average True Range), to move between ₹105.01 and ₹118.09, which gives a possible trading interval of +/-₹6.54 (+/-5.86%) up or down from last closing price. If Ester Industries Limited takes out the full calculated possible swing range there will be an estimated 11.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹109.78 (1.59%) than the resistance at ₹116.21 (4.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ester Industries Limited stock A Buy?
The Ester Industries Limited stock holds several negative signals and despite the positive trend, we believe Ester Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.967 Sell Candidate Upgraded
Predicted Opening Price for Ester Industries Limited of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
₹112.32 ( 0.687%) | ₹111.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESTER.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 117.62 | 5.44 % | |
R2 | 115.59 | 3.62 % | ||
R1 | 114.34 | 2.50 % | ||
Current price: | 111.55 | |||
Support | S1 | 110.29 | -1.13 % | |
S2 | 109.04 | -2.25 % | ||
S3 | 107.02 | -4.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 128.75 | 15.42 % | |
R2 | 126.22 | 13.15 % | ||
R1 | 116.21 | 4.18 % | ||
Current price | 111.55 | |||
Support | S1 | 109.78 | -1.59% | |
S2 | 94.65 | -15.15% | ||
S3 | 91.10 | -18.33% |
ESTER Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 20, 2023 | Sep 20, 2023 | Oct 25, 2023 | ₹0.500 | 0.558% |
2 | Sep 20, 2022 | Sep 20, 2022 | Oct 26, 2022 | ₹1.90 | 1.06% |
3 | Jul 13, 2011 | Jul 13, 2011 | Jul 13, 2011 | ₹2.00 | 4.38% |
4 | Nov 11, 2010 | Nov 11, 2010 | Nov 11, 2010 | ₹2.00 | 2.05% |
5 | Jul 15, 2010 | Jul 15, 2010 | Jul 15, 2010 | ₹1.00 | 2.62% |
FAQ
Click here for our free guide on how to buy Ester Industries Limited Stock.