Hindustan Foods Limited Stock Forecast
Weaker technical forecast for Hindustan Foods Limited as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Hindustan Foods Limited stock price fell by -0.128% on the last day (Friday, 3rd May 2024) from ₹507.90 to ₹507.25. During the last trading day the stock fluctuated 1.26% from a day low at ₹505.05 to a day high of ₹511.40. The price has been going up and down for this period, and there has been a 1.33% gain for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 thousand shares were bought and sold for approximately ₹2.78 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹512.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.91% during the next 3 months and, with a 90% probability hold a price between ₹422.70 and ₹477.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HNDFDS.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -2.97%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Hindustan Foods 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 ₹504.88 and ₹498.57. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Hindustan Foods Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹481.40 and ₹477.00. 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, Hindustan Foods Limited finds support just below today's level at ₹481.40. If this is broken, then the next support from accumulated volume will be at ₹477.00 and ₹468.75.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹6.35 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HNDFDS.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hindustan Foods Limited to open at ₹507.90, and during the day (based on 14 day Average True Range), to move between ₹494.33 and ₹520.17, which gives a possible trading interval of +/-₹12.92 (+/-2.55%) up or down from last closing price. If Hindustan Foods Limited takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹525.25 (3.55%) than the support at ₹481.40 (5.10%), 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 Hindustan Foods Limited stock A Buy?
Hindustan Foods Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.380 Sell Candidate Downgraded
Predicted Opening Price for Hindustan Foods Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹507.90 ( 0.128%) | ₹507.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HNDFDS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 514.25 | 1.38 % | |
| R2 | 511.82 | 0.90 % | ||
| R1 | 510.33 | 0.606 % | ||
| Current price: | 507.25 | |||
| Support | S1 | 505.47 | -0.350 % | |
| S2 | 503.98 | -0.646 % | ||
| S3 | 501.55 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 545.25 | 7.49 % | |
| R2 | 540.65 | 6.58 % | ||
| R1 | 525.25 | 3.55 % | ||
| Current price | 507.25 | |||
| Support | S1 | 481.40 | -5.10% | |
| S2 | 477.00 | -5.96% | ||
| S3 | 468.75 | -7.59% |
FAQ
Click here for our free guide on how to buy Hindustan Foods Limited Stock.
