HFCL Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
HFCL Limited stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The HFCL Limited stock price fell by -1.34% on the last day (Friday, 26th Apr 2024) from ₹97.10 to ₹95.80. During the last trading day the stock fluctuated 2.20% from a day low at ₹95.55 to a day high of ₹97.65. The price has been going up and down for this period, and there has been a -1.29% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -871 thousand shares and in total, 8 million shares were bought and sold for approximately ₹784.57 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.24% during the next 3 months and, with a 90% probability hold a price between ₹69.84 and ₹96.01 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HFCL.NS Signals & Forecast
The HFCL 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 ₹94.96 and ₹94.89. 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 14.46%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for HFCL Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹90.65 and ₹90.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HFCL Limited finds support just below today's level at ₹90.65. If this is broken, then the next support from accumulated volume will be at ₹90.10 and ₹83.70.
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 ₹2.10 (2.20%) between high and low. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: ₹91.80 (-4.18%) (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 (HFCL.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect HFCL Limited to open at ₹96.33, and during the day (based on 14 day Average True Range), to move between ₹91.97 and ₹99.63, which gives a possible trading interval of +/-₹3.83 (+/-4.00%) up or down from last closing price. If HFCL Limited takes out the full calculated possible swing range there will be an estimated 7.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹90.65 (5.38%) than the resistance at ₹107.30 (12.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
HFCL Limited will release earnings BMO on Friday, May 03, 2024. We will update the financials statements for HFCL Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.79% in the first trading day after earnings release.
Is HFCL Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.659 Buy Candidate Upgraded
Predicted Opening Price for HFCL Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹96.33 ( 0.557%) | ₹95.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HFCL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 98.43 | 2.75 % | |
| R2 | 97.63 | 1.91 % | ||
| R1 | 97.14 | 1.39 % | ||
| Current price: | 95.80 | |||
| Support | S1 | 95.53 | -0.281 % | |
| S2 | 95.04 | -0.798 % | ||
| S3 | 94.23 | -1.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 112.20 | 17.12 % | |
| R2 | 110.85 | 15.71 % | ||
| R1 | 107.30 | 12.00 % | ||
| Current price | 95.80 | |||
| Support | S1 | 90.65 | -5.38% | |
| S2 | 90.10 | -5.95% | ||
| S3 | 83.70 | -12.63% |
HFCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹0.180 | 0.239% |
| 2 | Sep 22, 2021 | Sep 22, 2021 | Sep 22, 2021 | ₹0.150 | 0.205% |
| 3 | May 16, 2019 | Sep 19, 2019 | Oct 28, 2019 | ₹0.100 | 0.581% |
| 4 | Sep 21, 2018 | Sep 21, 2018 | Sep 21, 2018 | ₹0.0600 | 0.289% |
| 5 | Sep 19, 2018 | Sep 19, 2018 | Sep 19, 2018 | ₹0.0600 | 0.258% |
FAQ
Click here for our free guide on how to buy HFCL Limited Stock.
