Honeywell Automation India Limited Stock Forecast
Honeywell Automation India Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Jul 04, 2024)
The Honeywell Automation India Limited stock price gained 3.76% on the last trading day (Thursday, 4th Jul 2024), rising from ₹56,501.65 to ₹58,628.10. During the last trading day the stock fluctuated 4.45% from a day low at ₹56,484.15 to a day high of ₹59,000.00. The price has been going up and down for this period, and there has been a 5.78% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 22 thousand shares were bought and sold for approximately ₹1.31 billion.
The stock lies in the middle of a wide and strong 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 34.35% during the next 3 months and, with a 90% probability hold a price between ₹74,442.61 and ₹87,093.65 at the end of this 3-month period.
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HONAUT.NS Signals & Forecast
The Honeywell Automation India 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 ₹57,110.20 and ₹54,325.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 17.74%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Honeywell Automation India Limited stock
Honeywell Automation India Limited finds support from accumulated volume at ₹55,737.50 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹2,515.85 between high and low, or 4.45%. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: ₹56,470.59 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (HONAUT.NS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Honeywell Automation India Limited to open at ₹58,037.42, and during the day (based on 14 day Average True Range), to move between ₹56,646.62 and ₹60,609.58, which gives a possible trading interval of +/-₹1,981.48 (+/-3.38%) up or down from last closing price. If Honeywell Automation India Limited takes out the full calculated possible swing range there will be an estimated 6.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹55,737.50, some ₹2,890.60 (4.93%) from the current price of ₹58,628.10, our system finds the risk reward attractive.
Is Honeywell Automation India Limited stock A Buy?
Honeywell Automation India Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.204 Strong Buy Candidate Upgraded
Predicted Opening Price for Honeywell Automation India Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹58,037.42 ( 1.01%) | ₹58,628.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HONAUT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 60,553.27 | 3.28% |
| R2 | 59,592.21 | 1.64% |
| R1 | 58,998.47 | 0.632% |
| Price | 58,628.10 | |
| S1 | 57,076.36 | -2.65% |
| S2 | 56,482.62 | -3.66% |
| S3 | 55,521.57 | -5.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 58,628.10 | |
| S1 | 55,737.50 | -4.93% |
| S2 | 54,515.00 | -7.02% |
| S3 | 53,287.65 | -9.11% |
HONAUT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 24, 2024 | Jul 24, 2024 | Aug 01, 2024 | ₹100.00 | 0.170% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹95.00 | 0.225% |
| 3 | Aug 08, 2022 | Aug 08, 2022 | Aug 08, 2022 | ₹90.00 | 0.222% |
| 4 | Aug 10, 2021 | Aug 10, 2021 | Aug 10, 2021 | ₹85.00 | 0.208% |
| 5 | May 22, 2020 | Aug 10, 2020 | Sep 11, 2020 | ₹75.00 | 0.230% |
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