Hindustan Composites Limited Stock Forecast
Green day on Friday for Hindustan Composites Limited
(Updated on May 10, 2024)
The Hindustan Composites Limited stock price gained 0.660% on the last trading day (Friday, 10th May 2024), rising from ₹409.40 to ₹412.10. During the last trading day the stock fluctuated 3.15% from a day low at ₹409.05 to a day high of ₹421.95. The price has fallen in 5 of the last 10 days and is down by -2.74% for this period. Volume fell on the last day by -1 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹675.84 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hindustan Composites Limited stock with a 90% probability to be traded between ₹377.29 and ₹426.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HINDCOMPOS.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Hindustan Composites 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 ₹416.61 and ₹414.34. 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 08, 2024, and so far it has fallen -5.52%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Hindustan Composites Limited stock
Hindustan Composites Limited finds support from accumulated volume at ₹409.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹12.90 between high and low, or 3.15%. For the last week the stock has had daily average volatility of 3.61%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HINDCOMPOS.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Hindustan Composites Limited to open at ₹414.37, and during the day (based on 14 day Average True Range), to move between ₹396.96 and ₹427.24, which gives a possible trading interval of +/-₹15.14 (+/-3.67%) up or down from last closing price. If Hindustan Composites Limited takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹409.50 (0.63%) than the resistance at ₹436.20 (5.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hindustan Composites Limited stock A Buy?
Hindustan Composites Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.436 Sell Candidate Unchanged
Predicted Opening Price for Hindustan Composites Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹414.37 ( 0.550%) | ₹412.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDCOMPOS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 427.27 | 3.68 % | |
| R2 | 422.34 | 2.48 % | ||
| R1 | 419.29 | 1.75 % | ||
| Current price: | 412.10 | |||
| Support | S1 | 409.44 | -0.646 % | |
| S2 | 406.39 | -1.38 % | ||
| S3 | 401.47 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 452.05 | 9.69 % | |
| R2 | 448.35 | 8.80 % | ||
| R1 | 436.20 | 5.85 % | ||
| Current price | 412.10 | |||
| Support | S1 | 409.50 | -0.631% | |
| S2 | 407.00 | -1.24% | ||
| S3 | 389.05 | -5.59% |
HINDCOMPOS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | ₹2.00 | 0.547% |
| 2 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹2.00 | 0.585% |
| 3 | Sep 21, 2020 | Sep 21, 2020 | Sep 21, 2020 | ₹2.00 | 1.06% |
| 4 | May 06, 2019 | Aug 21, 2019 | Sep 12, 2019 | ₹2.00 | 1.13% |
| 5 | May 08, 2018 | Aug 21, 2018 | Sep 05, 2018 | ₹0.500 | 0.130% |
FAQ
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