HIL Limited Stock Forecast

Red day on Tuesday for HIL Limited
(Updated on Jun 25, 2024)

HIL.BO Signals & Forecast

The HIL Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹2,920.07. On a fall, the stock will find some support from the long-term average at approximately ₹2,619.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -2.46%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Monday, January 08, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for HIL Limited stock

HIL Limited finds support from accumulated volume at ₹2,882.50 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹98.95 between high and low, or 3.41%. For the last week the stock has had daily average volatility of 3.24%.

The HIL Limited stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ₹2,800.77 (-3.77%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (HIL.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect HIL Limited to open at ₹2,937.22, and during the day (based on 14 day Average True Range), to move between ₹2,824.48 and ₹2,996.72, which gives a possible trading interval of +/-₹86.12 (+/-2.96%) up or down from last closing price. If HIL Limited takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹2,913.50 (0.10%) than the support at ₹2,882.50 (0.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is HIL Limited stock A Buy?

HIL 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: -0.097 Hold/Accumulate Unchanged

Predicted Opening Price for HIL Limited of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.