Hikal Limited Stock Forecast
Hikal Limited stock downgraded to Sell Candidate
(Updated on May 09, 2024)
The Hikal Limited stock price fell by -2.03% on the last day (Thursday, 9th May 2024) from ₹293.05 to ₹287.10. During the last trading day the stock fluctuated 3.64% from a day low at ₹285.55 to a day high of ₹295.95. The price has fallen in 8 of the last 10 days and is down by -7.91% for this period. 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 -16 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹1.89 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.96% during the next 3 months and, with a 90% probability hold a price between ₹301.56 and ₹355.04 at the end of this 3-month period.
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HIKAL.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Hikal Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹295.49 and ₹291.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -10.31%. Further fall is indicated until a new bottom pivot has been found. 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 Hikal Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹269.60 and ₹265.35. 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, Hikal Limited finds support just below today's level at ₹269.60. If this is broken, then the next support from accumulated volume will be at ₹265.35 and ₹264.80.
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 ₹10.40 (3.64%) between high and low. For the last week, the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HIKAL.BO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Hikal Limited to open at ₹289.53, and during the day (based on 14 day Average True Range), to move between ₹277.47 and ₹296.73, which gives a possible trading interval of +/-₹9.63 (+/-3.35%) up or down from last closing price. If Hikal Limited takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹269.60 (6.10%) than the resistance at ₹308.70 (7.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hikal Limited stock A Buy?
The Hikal Limited stock holds several negative signals and despite the positive trend, we believe Hikal Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.518 Sell Candidate Downgraded
Predicted Opening Price for Hikal Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹289.53 ( 0.85%) | ₹287.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HIKAL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 299.93 | 4.47 % | |
| R2 | 295.96 | 3.09 % | ||
| R1 | 293.51 | 2.23 % | ||
| Current price: | 287.10 | |||
| Support | S1 | 285.56 | -0.536 % | |
| S2 | 283.11 | -1.39 % | ||
| S3 | 279.13 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 320.10 | 11.49 % | |
| R2 | 314.80 | 9.65 % | ||
| R1 | 308.70 | 7.52 % | ||
| Current price | 287.10 | |||
| Support | S1 | 269.60 | -6.10% | |
| S2 | 265.35 | -7.58% | ||
| S3 | 264.80 | -7.77% |
HIKAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Feb 20, 2024 | Mar 09, 2024 | ₹0.600 | 0.218% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Oct 26, 2023 | ₹0.600 | 0.222% |
| 3 | Feb 14, 2023 | Feb 14, 2023 | Mar 03, 2023 | ₹0.600 | 0.195% |
| 4 | Feb 21, 2018 | Feb 21, 2018 | Mar 01, 2018 | ₹0.700 | 0.416% |
| 5 | Aug 02, 2017 | Aug 02, 2017 | Sep 09, 2017 | ₹0.600 | 0.425% |
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