Hindustan Foods Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Hindustan Foods Limited
(Updated on May 24, 2024)
The Hindustan Foods Limited stock price fell by -0.494% on the last day (Friday, 24th May 2024) from ₹495.85 to ₹493.40. During the last trading day the stock fluctuated 2.41% from a day low at ₹488.05 to a day high of ₹499.80. The price has been going up and down for this period, and there has been a -0.26% loss for the last 2 weeks. Volume has increased on the last day by 12 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, 15 thousand shares were bought and sold for approximately ₹7.41 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hindustan Foods Limited stock with a 90% probability to be traded between ₹462.29 and ₹516.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HNDFDS.BO Signals & Forecast
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. The Hindustan Foods Limited 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 ₹496.45 and ₹503.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -5.62%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hindustan Foods Limited stock
Hindustan Foods Limited finds support from accumulated volume at ₹481.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹11.75 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 1.84%.
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 27th
For the upcoming trading day on Monday, 27th we expect Hindustan Foods Limited to open at ₹493.75, and during the day (based on 14 day Average True Range), to move between ₹482.30 and ₹504.50, which gives a possible trading interval of +/-₹11.10 (+/-2.25%) up or down from last closing price. If Hindustan Foods Limited takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹493.65 (0.05%) than the support at ₹481.40 (2.43%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.533 Sell Candidate Unchanged
Predicted Opening Price for Hindustan Foods Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹493.75 ( 0.0709%) | ₹493.40 |
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 | 505.50 | 2.45 % | |
| R2 | 501.01 | 1.54 % | ||
| R1 | 498.24 | 0.98 % | ||
| Current price: | 493.40 | |||
| Support | S1 | 489.26 | -0.84 % | |
| S2 | 486.49 | -1.40 % | ||
| S3 | 482.00 | -2.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 522.60 | 5.92 % | |
| R2 | 511.65 | 3.70 % | ||
| R1 | 493.65 | 0.0507 % | ||
| Current price | 493.40 | |||
| Support | S1 | 481.40 | -2.43% | |
| S2 | 477.00 | -3.32% | ||
| S3 | 468.75 | -5.00% |
FAQ
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