Housing and Urban Development Corp Ltd Stock Forecast
Big movements in Housing and Urban Development Corp Ltd stock price on Tuesday moving 14.00% between high and low
(Updated on May 21, 2024)
The Housing and Urban Development Corp Ltd stock price gained 11.94% on the last trading day (Tuesday, 21st May 2024), rising from ₹241.20 to ₹270.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 14.00% from a day low at ₹240.30 to a day high of ₹273.95. The price has risen in 7 of the last 10 days and is up by 26.29% 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, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₹797.16 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹240.21, a level that may pose a second chance to hit a runner. According to fan-theory ₹281.94 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HUDCO.BO Signals & Forecast
The Housing and Urban Development Corp Ltd 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 ₹234.22 and ₹211.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 30.06%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Housing and Urban Development Corp Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹228.10 and ₹207.60. 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, Housing and Urban Development Corp Ltd finds support just below today's level at ₹228.10. If this is broken, then the next support from accumulated volume will be at ₹207.60 and ₹203.40.
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 ₹33.65 between high and low, or 14.00%. For the last week, the stock has had daily average volatility of 7.25%.
Our recommended stop-loss: ₹260.23 (-3.62%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (HUDCO.BO) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Housing and Urban Development Corporation Limited to open at ₹261.42, and during the day (based on 14 day Average True Range), to move between ₹255.82 and ₹284.18, which gives a possible trading interval of +/-₹14.18 (+/-5.25%) up or down from last closing price. If Housing and Urban Development Corporation Limited takes out the full calculated possible swing range there will be an estimated 10.50% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹228.10, some ₹41.90 (15.52%) from the current price of ₹270.00, our system finds the risk reward attractive.
Earnings coming up
Housing and Urban Development Corporation Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Housing and Urban Development Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.43% in the first trading day after earnings release.
Is Housing and Urban Development Corporation Limited stock A Buy?
Housing and Urban Development Corp Ltd 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 Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Housing and Urban Development Corporation Limited of Wednesday, May 22, 2024
Fair opening price May 22, 2024 | Current price |
---|---|
₹261.42 ( 3.18%) | ₹270.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUDCO.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 295.07 | 9.28 % | |
R2 | 282.21 | 4.52 % | ||
R1 | 274.27 | 1.58 % | ||
Current price: | 270.00 | |||
Support | S1 | 248.56 | -7.94 % | |
S2 | 240.62 | -10.88 % | ||
S3 | 227.77 | -15.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 270.00 | |||
Support | S1 | 228.10 | -15.52% | |
S2 | 207.60 | -23.11% | ||
S3 | 203.40 | -24.67% |
HUDCO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Apr 19, 2024 | ₹1.50 | 0.769% |
2 | Sep 08, 2023 | Sep 08, 2023 | Oct 21, 2023 | ₹3.10 | 4.01% |
3 | Mar 21, 2023 | Mar 21, 2023 | Oct 30, 2020 | ₹0.750 | 2.37% |
4 | Sep 14, 2017 | Sep 14, 2017 | Oct 28, 2017 | ₹0.0500 | 0.0582% |
FAQ
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