Hindoostan Mills Limited Stock Forecast
Green day on Monday for Hindoostan Mills Limited
(Updated on Jun 10, 2024)
The Hindoostan Mills Limited stock price gained 2.78% on the last trading day (Monday, 10th Jun 2024), rising from ₹277.30 to ₹285.00. During the last trading day the stock fluctuated 4.01% from a day low at ₹274.00 to a day high of ₹285.00. The price has fallen in 5 of the last 10 days and is down by -1.14% for this period. Volume fell on the last day by -1 thousand shares and in total, 374 shares were bought and sold for approximately ₹106.59 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 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 6.84% during the next 3 months and, with a 90% probability hold a price between ₹278.27 and ₹332.48 at the end of this 3-month period.
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HINDMILL.BO Signals & Forecast
The Hindoostan Mills 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 ₹278.86 and ₹270.67. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 29, 2024, and so far it has fallen -7.60%. Further fall is indicated until a new bottom pivot has been found. 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 Hindoostan Mills Limited stock
Hindoostan Mills Limited finds support from accumulated volume at ₹274.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹11.00 between high and low, or 4.01%. For the last week the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: ₹269.72 (-5.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (HINDMILL.BO) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Hindoostan Mills Limited to open at ₹281.33, and during the day (based on 14 day Average True Range), to move between ₹273.24 and ₹296.76, which gives a possible trading interval of +/-₹11.76 (+/-4.13%) up or down from last closing price. If Hindoostan Mills Limited takes out the full calculated possible swing range there will be an estimated 8.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹293.85 (3.11%) than the support at ₹274.60 (3.65%), 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 Hindoostan Mills 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 Hindoostan Mills Limited stock to perform well in the short-term.
Current score: 3.380 Buy Candidate Unchanged
Predicted Opening Price for Hindoostan Mills Limited of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| ₹281.33 ( 1.29%) | ₹285.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDMILL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 292.33 | 2.57% |
| R2 | 288.13 | 1.10% |
| R1 | 285.54 | 0.188% |
| Price | 285.00 | |
| S1 | 277.13 | -2.76% |
| S2 | 274.54 | -3.67% |
| S3 | 270.33 | -5.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 308.45 | 8.23% |
| R2 | 300.85 | 5.56% |
| R1 | 293.85 | 3.11% |
| Price | 285.00 | |
| S1 | 274.60 | -3.65% |
| S2 | 260.05 | -8.75% |
| S3 | 249.00 | -12.63% |
HINDMILL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 01, 2016 | Aug 01, 2016 | Aug 01, 2016 | ₹4.50 | 1.19% |
| 2 | Jul 30, 2015 | Jul 30, 2015 | Jul 30, 2015 | ₹4.00 | 1.04% |
| 3 | Dec 04, 2014 | Dec 04, 2014 | Dec 04, 2014 | ₹10.00 | 1.76% |
| 4 | Jul 17, 2013 | Jul 17, 2013 | Jul 17, 2013 | ₹7.50 | 2.77% |
| 5 | Jul 30, 2012 | Jul 30, 2012 | Jul 30, 2012 | ₹5.00 | 1.60% |
FAQ
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