Foseco India Limited Stock Forecast
Green day on Tuesday for Foseco India Limited stock after gaining 1.18%
(Updated on Jun 25, 2024)
The Foseco India Limited stock price gained 1.18% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹4,234.60 to ₹4,284.55. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.81% from a day low at ₹4,142.10 to a day high of ₹4,299.90. The price has risen in 10 of the last 10 days and is up by 18.58% 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, 1 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately ₹24.38 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹4,227.73, a level that may pose a second chance to hit a runner. According to fan-theory ₹4,890.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FOSECOIND.NS Signals & Forecast
The Foseco 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 ₹4,125.85 and ₹3,674.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 26.41%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Foseco India Limited stock
Foseco India Limited finds support from accumulated volume at ₹4,086.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹157.80 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 3.91%.
The Foseco India Limited stock is extremely overbought on RSI14 (99). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Foseco India Limited has been rising for 10 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹4,092.10 (-4.49%) (This stock has high daily movements and this gives high risk. The RSI14 is 99 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (FOSECOIND.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Foseco India Limited to open at ₹4,242.18, and during the day (based on 14 day Average True Range), to move between ₹4,135.83 and ₹4,433.27, which gives a possible trading interval of +/-₹148.72 (+/-3.47%) up or down from last closing price. If Foseco India Limited takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹4,086.35, some ₹198.20 (4.63%) from the current price of ₹4,284.55, our system finds the risk reward attractive.
Is Foseco India Limited stock A Buy?
Foseco 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Foseco India Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹4,242.18 ( 0.99%) | ₹4,284.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FOSECOIND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,399.98 | 2.69% |
| R2 | 4,339.70 | 1.29% |
| R1 | 4,302.46 | 0.418% |
| Price | 4,284.55 | |
| S1 | 4,181.90 | -2.40% |
| S2 | 4,144.66 | -3.26% |
| S3 | 4,084.38 | -4.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 4,284.55 | |
| S1 | 4,086.35 | -4.63% |
| S2 | 3,714.25 | -13.31% |
| S3 | 3,297.70 | -23.03% |
FOSECOIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jul 10, 2024 | ₹25.00 | 0.583% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | ₹15.00 | 0.578% |
| 3 | May 02, 2022 | May 02, 2022 | May 02, 2022 | ₹25.00 | 1.62% |
| 4 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ₹10.00 | 0.704% |
| 5 | Oct 28, 2020 | Oct 28, 2020 | Oct 28, 2020 | ₹5.00 | 0.425% |
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