HEG Limited Stock Forecast
Green day on Friday for HEG Limited
(Updated on Apr 19, 2024)
The HEG Limited stock price gained 0.0285% on the last trading day (Friday, 19th Apr 2024), rising from ₹2,459.10 to ₹2,459.80. During the last trading day the stock fluctuated 4.18% from a day low at ₹2,395.00 to a day high of ₹2,495.00. The price has risen in 8 of the last 10 days and is up by 18.64% over the past 2 weeks. Volume fell on the last day by -751 thousand shares and in total, 629 thousand shares were bought and sold for approximately ₹1.55 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the very 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 ₹2,410.03, a level that may pose a second chance to hit a runner. According to fan-theory ₹2,917.69 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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HEG.NS Signals & Forecast
Mostly positive signals in the chart today. The HEG 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 ₹2,378.89 and ₹1,950.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 13.03%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Thursday, February 29, 2024 with a target of ₹1,778.17. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for HEG Limited stock
HEG Limited finds support from accumulated volume at ₹2,440.30 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 ₹100.00 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 6.33%.
The HEG Limited stock is extremely overbought on RSI14 (76). 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.
Our recommended stop-loss: ₹2,386.50 (-2.98%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HEG.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect HEG Limited to open at ₹2,449.93, and during the day (based on 14 day Average True Range), to move between ₹2,329.95 and ₹2,589.65, which gives a possible trading interval of +/-₹129.85 (+/-5.28%) up or down from last closing price. If HEG Limited takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹2,440.30, some ₹19.50 (0.79%) from the current price of ₹2,459.80, our system finds the risk reward attractive.
Is HEG Limited stock A Buy?
HEG Limited holds several positive signals and has broken the strong rising trend up. As the stock is also 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.
Current score: 5.431 Strong Buy Candidate Unchanged
Predicted Opening Price for HEG Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹2,449.93 ( 0.401%) | ₹2,459.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HEG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,549.93 | 3.66 % | |
| R2 | 2,511.73 | 2.11 % | ||
| R1 | 2,488.13 | 1.15 % | ||
| Current price: | 2,459.80 | |||
| Support | S1 | 2,411.73 | -1.95 % | |
| S2 | 2,388.13 | -2.91 % | ||
| S3 | 2,349.93 | -4.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2,459.80 | |||
| Support | S1 | 2,440.30 | -0.793% | |
| S2 | 2,356.85 | -4.19% | ||
| S3 | 1,951.00 | -20.68% |
HEG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 24, 2022 | Aug 24, 2022 | Aug 24, 2022 | ₹40.00 | 3.06% |
| 2 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | ₹3.00 | 0.135% |
| 3 | Feb 06, 2020 | Feb 17, 2020 | Mar 11, 2020 | ₹25.00 | 2.94% |
| 4 | May 20, 2019 | Aug 09, 2019 | Sep 19, 2019 | ₹50.00 | 4.11% |
| 5 | Oct 26, 2018 | Nov 12, 2018 | Nov 29, 2018 | ₹30.00 | 0.718% |
FAQ
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