HISAR METAL IND/SH VTG Stock Forecast
HISAR METAL IND/SH VTG stock upgraded to Sell Candidate.
(Updated on May 31, 2024)
The HISAR METAL IND/SH VTG stock price fell by -2.79% on the last day (Friday, 31st May 2024) from ₹195.05 to ₹189.60. During the last trading day the stock fluctuated 4.55% from a day low at ₹184.55 to a day high of ₹192.95. The price has fallen in 5 of the last 10 days and is down by -9.3% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 30 thousand shares were bought and sold for approximately ₹5.61 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹183.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.94% during the next 3 months and, with a 90% probability hold a price between ₹203.22 and ₹257.75 at the end of this 3-month period.
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HISARMETAL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The HISAR METAL IND/SH VTG stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹196.25 and ₹198.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -15.47%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for HISAR METAL IND/SH VTG stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹173.75 and ₹173.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HISAR METAL IND/SH VTG finds support just below today's level at ₹173.75. If this is broken, then the next support from accumulated volume will be at ₹173.40 and ₹162.55.
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 ₹8.40 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 5.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HISARMETAL.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect HISAR METAL IND/SH VTG to open at ₹189.03, and during the day (based on 14 day Average True Range), to move between ₹179.73 and ₹199.47, which gives a possible trading interval of +/-₹9.87 (+/-5.20%) up or down from last closing price. If HISAR METAL IND/SH VTG takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹173.75 (8.36%) than the resistance at ₹217.65 (14.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HISAR METAL IND/SH VTG stock A Buy?
The HISAR METAL IND/SH VTG stock holds several negative signals and despite the positive trend, we believe HISAR METAL IND/SH VTG will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.656 Sell Candidate Upgraded
Predicted Opening Price for HISAR METAL IND/SH VTG of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹189.03 ( 0.299%) | ₹189.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HISARMETAL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.43 | 4.13 % | |
| R2 | 194.22 | 2.44 % | ||
| R1 | 192.24 | 1.39 % | ||
| Current price: | 189.60 | |||
| Support | S1 | 185.82 | -1.99 % | |
| S2 | 183.84 | -3.04 % | ||
| S3 | 180.63 | -4.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 224.30 | 18.30 % | |
| R2 | 222.00 | 17.09 % | ||
| R1 | 217.65 | 14.79 % | ||
| Current price | 189.60 | |||
| Support | S1 | 173.75 | -8.36% | |
| S2 | 173.40 | -8.54% | ||
| S3 | 162.55 | -14.27% |
HISARMETAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | ₹1.00 | 0.710% |
| 2 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹1.00 | 0.764% |
| 3 | Sep 17, 2020 | Sep 17, 2020 | Sep 17, 2020 | ₹1.00 | 1.21% |
| 4 | May 29, 2019 | Sep 12, 2019 | Oct 05, 2019 | ₹1.00 | 2.09% |
| 5 | May 29, 2018 | Sep 12, 2018 | Oct 07, 2018 | ₹1.00 | 1.92% |
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