Firstsource Solutions Limited Stock Forecast
Firstsource Solutions Limited stock upgraded from Hold/Accumulate to Strong Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Firstsource Solutions Limited stock price gained 1.00% on the last trading day (Friday, 26th Apr 2024), rising from ₹215.65 to ₹217.80. During the last trading day the stock fluctuated 6.14% from a day low at ₹215.65 to a day high of ₹228.90. The price has fallen in 6 of the last 10 days but is still up by 6.48% 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, 5 million more shares were traded than the day before. In total, 14 million shares were bought and sold for approximately ₹3.05 billion.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹216.14 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹250.51 sometime during the next 3 months.
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FSL.NS Signals & Forecast
The Firstsource Solutions 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 ₹204.71 and ₹198.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 19.64%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Firstsource Solutions Limited stock
Firstsource Solutions Limited finds support from accumulated volume at ₹216.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹13.25 (6.14%) between high and low. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: ₹209.92 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (FSL.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Firstsource Solutions Limited to open at ₹220.78, and during the day (based on 14 day Average True Range), to move between ₹210.25 and ₹225.35, which gives a possible trading interval of +/-₹7.55 (+/-3.47%) up or down from last closing price. If Firstsource Solutions Limited takes out the full calculated possible swing range there will be an estimated 6.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹216.65, some ₹1.15 (0.53%) from the current price of ₹217.80, our system finds the risk reward attractive.
Earnings coming up
Firstsource Solutions Limited will release earnings BMO on Friday, May 03, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.93. We will update the financials statements for Firstsource Solutions Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.94% in the first trading day after earnings release.
Is Firstsource Solutions Limited stock A Buy?
Firstsource Solutions Limited holds several positive signals and has broken the wide and horizontal trend up. As the stock is in great technical shape 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: 5.111 Strong Buy Candidate Upgraded
Predicted Opening Price for Firstsource Solutions Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹220.78 ( 1.37%) | ₹217.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FSL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 234.03 | 7.45 % | |
| R2 | 228.97 | 5.13 % | ||
| R1 | 225.84 | 3.69 % | ||
| Current price: | 217.80 | |||
| Support | S1 | 215.72 | -0.95 % | |
| S2 | 212.59 | -2.39 % | ||
| S3 | 207.53 | -4.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 217.80 | |||
| Support | S1 | 216.65 | -0.528% | |
| S2 | 215.65 | -0.99% | ||
| S3 | 201.50 | -7.48% |
FSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 08, 2024 | ₹3.50 | 1.77% |
| 2 | Feb 16, 2024 | Feb 16, 2024 | Mar 08, 2024 | ₹3.50 | 1.77% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹3.50 | 2.96% |
| 4 | Feb 17, 2022 | Feb 17, 2022 | Feb 17, 2022 | ₹3.50 | 2.64% |
| 5 | Feb 17, 2021 | Feb 17, 2021 | Feb 17, 2021 | ₹3.00 | 3.18% |
FAQ
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