Indo Count Industries Limited Stock Forecast
Indo Count Industries Limited stock price down 0.163% on Friday
(Updated on Apr 26, 2024)
The Indo Count Industries Limited stock price fell by -0.163% on the last day (Friday, 26th Apr 2024) from ₹398.25 to ₹397.60. During the last trading day the stock fluctuated 4.72% from a day low at ₹385.80 to a day high of ₹404.00. The price has been going up and down for this period, and there has been a 4.03% gain for the last 2 weeks. Volume has increased on the last day by 55 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, 355 thousand shares were bought and sold for approximately ₹141.17 million.
The stock lies in the upper part of a wide and strong rising 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 ₹403.51 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 50.43% during the next 3 months and, with a 90% probability hold a price between ₹541.84 and ₹607.01 at the end of this 3-month period.
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ICIL.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.351%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Indo Count Industries 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 ₹387.01 and ₹351.97. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Indo Count Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹351.85 and ₹323.90. 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, Indo Count Industries Limited finds support just below today's level at ₹351.85. If this is broken, then the next support from accumulated volume will be at ₹323.90 and ₹304.20.
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 ₹18.20 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: ₹386.12 (-2.89%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ICIL.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Indo Count Industries Limited to open at ₹395.80, and during the day (based on 14 day Average True Range), to move between ₹381.25 and ₹413.95, which gives a possible trading interval of +/-₹16.35 (+/-4.11%) up or down from last closing price. If Indo Count Industries Limited takes out the full calculated possible swing range there will be an estimated 8.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹398.25 (0.16%) than the support at ₹351.85 (11.51%), 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 Indo Count Industries 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 Indo Count Industries Limited stock to perform well in the short-term.
Current score: 2.032 Buy Candidate Unchanged
Predicted Opening Price for Indo Count Industries Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹395.80 ( 0.453%) | ₹397.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 414.00 | 4.12 % | |
| R2 | 407.05 | 2.38 % | ||
| R1 | 402.75 | 1.30 % | ||
| Current price: | 397.60 | |||
| Support | S1 | 388.85 | -2.20 % | |
| S2 | 384.55 | -3.28 % | ||
| S3 | 377.60 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 399.00 | 0.352 % | ||
| R1 | 398.25 | 0.163 % | ||
| Current price | 397.60 | |||
| Support | S1 | 351.85 | -11.51% | |
| S2 | 323.90 | -18.54% | ||
| S3 | 304.20 | -23.49% |
ICIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹2.00 | 1.37% |
| 2 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | ₹1.50 | 0.636% |
| 3 | Jun 12, 2020 | Jul 22, 2020 | Aug 29, 2020 | ₹0.600 | 0.82% |
| 4 | May 22, 2019 | Aug 01, 2019 | Aug 01, 2019 | ₹0.600 | 1.81% |
| 5 | May 04, 2018 | Aug 30, 2018 | Oct 11, 2018 | ₹0.400 | 0.657% |
FAQ
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