Hindustan Zinc Limited Stock Forecast
Green day on Friday for Hindustan Zinc Limited stock after gaining 1.18%
(Updated on May 17, 2024)
The Hindustan Zinc Limited stock price gained 1.18% on the last trading day (Friday, 17th May 2024), rising from ₹583.30 to ₹590.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.04% from a day low at ₹578.40 to a day high of ₹619.10. The price has risen in 6 of the last 10 days and is up by 25.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ₹3.85 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹534.23, a level that may pose a second chance to hit a runner. According to fan-theory ₹600.07 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HINDZINC.NS Signals & Forecast
Mostly positive signals in the chart today. The Hindustan Zinc 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 ₹550.71 and ₹428.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 48.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Hindustan Zinc Limited stock
Hindustan Zinc Limited finds support from accumulated volume at ₹579.10 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹40.70 between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 8.23%.
Our recommended stop-loss: ₹558.21 (-5.42%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (HINDZINC.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hindustan Zinc Limited to open at ₹595.90, and during the day (based on 14 day Average True Range), to move between ₹558.79 and ₹621.61, which gives a possible trading interval of +/-₹31.41 (+/-5.32%) up or down from last closing price. If Hindustan Zinc Limited takes out the full calculated possible swing range there will be an estimated 10.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹579.10, some ₹11.10 (1.88%) from the current price of ₹590.20, our system finds the risk reward attractive.
Is Hindustan Zinc Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Hindustan Zinc Limited stock to perform well in the short-term period.
Current score: 4.844 Buy Candidate Unchanged
Predicted Opening Price for Hindustan Zinc Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹595.90 ( 0.97%) | ₹590.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HINDZINC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 636.60 | 7.86 % | |
| R2 | 621.05 | 5.23 % | ||
| R1 | 611.45 | 3.60 % | ||
| Current price: | 590.20 | |||
| Support | S1 | 580.35 | -1.67 % | |
| S2 | 570.75 | -3.30 % | ||
| S3 | 555.20 | -5.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 590.20 | |||
| Support | S1 | 579.10 | -1.88% | |
| S2 | 559.90 | -5.13% | ||
| S3 | 525.50 | -10.96% |
HINDZINC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | Jun 06, 2024 | ₹10.00 | 1.69% |
| 2 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | ₹0 | 0% |
| 3 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ₹7.00 | 2.13% |
| 4 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | ₹26.00 | 8.70% |
| 5 | Jan 30, 2023 | Jan 30, 2023 | Jan 30, 2023 | ₹13.00 | 3.94% |
FAQ
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