Himadri Speciality Chemical Limited Stock Forecast
Himadri Speciality Chemical Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Himadri Speciality Chemical Limited stock price gained 0.294% on the last trading day (Friday, 3rd May 2024), rising from ₹374.15 to ₹375.25. During the last trading day the stock fluctuated 2.84% from a day low at ₹369.50 to a day high of ₹380.00. The price has risen in 7 of the last 10 days and is up by 16.79% 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, 49 thousand more shares were traded than the day before. In total, 150 thousand shares were bought and sold for approximately ₹56.13 million.
The stock lies the upper part of a very 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 ₹376.80 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 -5.27% during the next 3 months and, with a 90% probability hold a price between ₹261.24 and ₹356.96 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.
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HSCL.BO Signals & Forecast
The Himadri Speciality Chemical 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 ₹372.00 and ₹330.89. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.701%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Himadri Speciality Chemical Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹315.25 and ₹308.95. 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, Himadri Speciality Chemical Limited finds support just below today's level at ₹315.25. If this is broken, then the next support from accumulated volume will be at ₹308.95 and ₹301.50.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹10.50 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: ₹360.92 (-3.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (HSCL.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Himadri Speciality Chemical Limited to open at ₹374.92, and during the day (based on 14 day Average True Range), to move between ₹358.81 and ₹391.69, which gives a possible trading interval of +/-₹16.44 (+/-4.38%) up or down from last closing price. If Himadri Speciality Chemical Limited takes out the full calculated possible swing range there will be an estimated 8.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹377.90 (0.71%) than the support at ₹315.25 (15.99%), 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 Himadri Speciality Chemical Limited stock A Buy?
Himadri Speciality Chemical Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.001 Hold/Accumulate Downgraded
Predicted Opening Price for Himadri Speciality Chemical Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹374.92 ( 0.0888%) | ₹375.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSCL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 385.42 | 2.71 % | |
| R2 | 381.41 | 1.64 % | ||
| R1 | 378.93 | 0.98 % | ||
| Current price: | 375.25 | |||
| Support | S1 | 370.91 | -1.16 % | |
| S2 | 368.43 | -1.82 % | ||
| S3 | 364.42 | -2.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 378.35 | 0.83 % | ||
| R1 | 377.90 | 0.706 % | ||
| Current price | 375.25 | |||
| Support | S1 | 315.25 | -15.99% | |
| S2 | 308.95 | -17.67% | ||
| S3 | 301.50 | -19.65% |
HSCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jul 22, 2023 | ₹0.250 | 0.177% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Oct 28, 2022 | ₹0.200 | 0.192% |
| 3 | Sep 13, 2017 | Sep 13, 2017 | Oct 22, 2017 | ₹0.100 | 0.0626% |
| 4 | Sep 15, 2016 | Sep 15, 2016 | Sep 15, 2016 | ₹0.0500 | 0.141% |
| 5 | Sep 12, 2014 | Sep 12, 2014 | Sep 12, 2014 | ₹0.100 | 0.280% |
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