Housing and Urban Development Corp Ltd Stock Forecast

Red day on Tuesday for Housing and Urban Development Corp Ltd stock after losing 1.03%
(Updated on Jul 02, 2024)

HUDCO.NS Signals & Forecast

The Housing and Urban Development Corp Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹280.07. On a fall, the stock will find some support from the long-term average at approximately ₹265.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -3.05%. 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 Housing and Urban Development Corp Ltd stock

Housing and Urban Development Corp Ltd finds support from accumulated volume at ₹270.00 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 ₹8.90 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 3.87%.

Our recommended stop-loss: ₹264.21 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 75 days ago.)

Trading Expectations (HUDCO.NS) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Housing and Urban Development Corporation Limited to open at ₹280.42, and during the day (based on 14 day Average True Range), to move between ₹264.59 and ₹292.11, which gives a possible trading interval of +/-₹13.76 (+/-4.94%) 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 9.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹280.85 (0.90%) than the support at ₹270.00 (3.00%), 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 Housing and Urban Development Corporation Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Housing and Urban Development Corp Ltd stock to perform well in the short-term.

Current score: 2.631 Buy Candidate Unchanged

Predicted Opening Price for Housing and Urban Development Corporation Limited of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.