Hindustan Copper Limited Stock Forecast
Hindustan Copper Limited stock price up 4.31% on Friday
(Updated on May 10, 2024)
The Hindustan Copper Limited stock price gained 4.31% on the last trading day (Friday, 10th May 2024), rising from ₹357.55 to ₹372.95. During the last trading day the stock fluctuated 5.24% from a day low at ₹356.15 to a day high of ₹374.80. The price has fallen in 6 of the last 10 days and is down by -4.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ₹3.96 billion.
The stock lies in the middle of a wide and strong 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 67.08% during the next 3 months and, with a 90% probability hold a price between ₹570.56 and ₹681.41 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.
HINDCOPPER.NS Signals & Forecast
The Hindustan Copper 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 ₹374.80. On a fall, the stock will find some support from the long-term average at approximately ₹345.62. 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. Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, May 02, 2024, and so far it has fallen -4.73%. 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).
Support, Risk & Stop-loss for Hindustan Copper Limited stock
Hindustan Copper Limited finds support from accumulated volume at ₹362.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹18.65 between high and low, or 5.24%. For the last week, the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: ₹352.87 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (HINDCOPPER.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Hindustan Copper Limited to open at ₹367.97, and during the day (based on 14 day Average True Range), to move between ₹357.36 and ₹388.54, which gives a possible trading interval of +/-₹15.59 (+/-4.18%) up or down from last closing price. If Hindustan Copper Limited takes out the full calculated possible swing range there will be an estimated 8.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹379.05 (1.64%) than the support at ₹362.40 (2.83%), 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.
Earnings coming up
Hindustan Copper Limited will release earnings BMO on Friday, May 17, 2024. We will update the financials statements for Hindustan Copper Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.69% in the first trading day after earnings release.
Is Hindustan Copper Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hindustan Copper Limited stock to perform well in the short-term.
Current score: 4.137 Buy Candidate Unchanged
Predicted Opening Price for Hindustan Copper Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹367.97 ( 1.34%) | ₹372.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDCOPPER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 386.62 | 3.66 % | |
| R2 | 379.49 | 1.75 % | ||
| R1 | 375.09 | 0.574 % | ||
| Current price: | 372.95 | |||
| Support | S1 | 360.84 | -3.25 % | |
| S2 | 356.44 | -4.43 % | ||
| S3 | 349.32 | -6.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 391.00 | 4.84 % | |
| R2 | 380.80 | 2.10 % | ||
| R1 | 379.05 | 1.64 % | ||
| Current price | 372.95 | |||
| Support | S1 | 362.40 | -2.83% | |
| S2 | 358.35 | -3.91% | ||
| S3 | 309.85 | -16.92% |
HINDCOPPER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹1.16 | 1.00% |
| 2 | Sep 14, 2021 | Sep 14, 2021 | Sep 14, 2021 | ₹0.350 | 0.278% |
| 3 | May 28, 2019 | Jul 23, 2019 | Aug 28, 2019 | ₹0.520 | 1.68% |
| 4 | May 31, 2018 | Sep 18, 2018 | Oct 27, 2018 | ₹0.250 | 0.530% |
| 5 | May 17, 2017 | Aug 14, 2017 | Sep 20, 2017 | ₹0.200 | 0.317% |
FAQ
Click here for our free guide on how to buy Hindustan Copper Limited Stock.
