Eveready Industries India Limited Stock Forecast
Eveready Industries India Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Eveready Industries India Limited stock price gained 0.172% on the last trading day (Friday, 28th Jun 2024), rising from ₹347.85 to ₹348.45. During the last trading day the stock fluctuated 2.41% from a day low at ₹343.95 to a day high of ₹352.25. The price has risen in 6 of the last 10 days and is up by 3.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 260 thousand shares were bought and sold for approximately ₹90.45 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹355.89 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.81% during the next 3 months and, with a 90% probability hold a price between ₹291.67 and ₹345.90 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.
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EVEREADY.NS Signals & Forecast
The Eveready Industries India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹349.22. On a fall, the stock will find some support from the long-term average at approximately ₹334.94. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 25, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eveready Industries India Limited stock
Eveready Industries India Limited finds support from accumulated volume at ₹345.45 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 ₹8.30 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 4.39%.
Our recommended stop-loss: ₹335.16 (-3.81%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (EVEREADY.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Eveready Industries India Limited to open at ₹348.22, and during the day (based on 14 day Average True Range), to move between ₹336.22 and ₹360.68, which gives a possible trading interval of +/-₹12.23 (+/-3.51%) up or down from last closing price. If Eveready Industries India Limited takes out the full calculated possible swing range there will be an estimated 7.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹345.45 (0.86%) than the resistance at ₹356.40 (2.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eveready Industries India Limited stock A Buy?
Eveready Industries India 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.940 Hold/Accumulate Upgraded
Predicted Opening Price for Eveready Industries India Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹348.22 ( 0.0670%) | ₹348.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVEREADY.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 356.52 | 2.32% |
| R2 | 353.35 | 1.41% |
| R1 | 351.39 | 0.84% |
| Price | 348.45 | |
| S1 | 345.05 | -0.98% |
| S2 | 343.09 | -1.54% |
| S3 | 339.92 | -2.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 358.50 | 2.88% |
| R2 | 357.05 | 2.47% |
| R1 | 356.40 | 2.28% |
| Price | 348.45 | |
| S1 | 345.45 | -0.86% |
| S2 | 345.00 | -0.99% |
| S3 | 336.20 | -3.52% |
EVEREADY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 26, 2024 | Jul 26, 2024 | Sep 02, 2024 | ₹1.00 | 0.287% |
| 2 | Jul 26, 2018 | Jul 26, 2018 | Jul 26, 2018 | ₹1.50 | 0.652% |
| 3 | May 06, 2016 | Jul 14, 2016 | Jul 18, 2016 | ₹1.00 | 0.376% |
| 4 | Jul 24, 2015 | Aug 05, 2015 | Aug 21, 2015 | ₹1.00 | 0.312% |
| 5 | May 05, 2014 | Jul 16, 2014 | Aug 23, 2014 | ₹0.500 | 0.527% |
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