Indo Count Industries Limited Stock Forecast
Indo Count Industries Limited stock price down 2.97% on Monday
(Updated on May 13, 2024)
The Indo Count Industries Limited stock price fell by -2.97% on the last day (Monday, 13th May 2024) from ₹370.15 to ₹359.15. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 5.16% from a day low at ₹354.40 to a day high of ₹372.70. The price has fallen in 8 of the last 10 days and is down by -9.7% for this period. Volume has increased on the last day by 123 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, 331 thousand shares were bought and sold for approximately ₹118.84 million.
Given the current short-term trend, the stock is expected to rise 34.62% during the next 3 months and, with a 90% probability hold a price between ₹483.50 and ₹569.42 at the end of this 3-month period.
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ICIL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Indo Count Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹379.61 and ₹373.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -9.99%. 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.
Support, Risk & Stop-loss for Indo Count Industries Limited stock
Indo Count Industries Limited finds support from accumulated volume at ₹351.85 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 ₹18.30 between high and low, or 5.16%. For the last week, the stock has had daily average volatility of 4.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICIL.NS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Indo Count Industries Limited to open at ₹362.08, and during the day (based on 14 day Average True Range), to move between ₹342.38 and ₹375.92, which gives a possible trading interval of +/-₹16.77 (+/-4.67%) 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 9.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹351.85 (2.03%) than the resistance at ₹374.40 (4.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Indo Count Industries Limited stock A Buy?
The Indo Count Industries Limited stock holds several negative signals and despite the positive trend, we believe Indo Count Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.475 Sell Candidate Unchanged
Predicted Opening Price for Indo Count Industries Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹362.08 ( 0.82%) | ₹359.15 |
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 | 380.38 | 5.91 % | |
| R2 | 373.39 | 3.97 % | ||
| R1 | 369.07 | 2.76 % | ||
| Current price: | 359.15 | |||
| Support | S1 | 355.09 | -1.13 % | |
| S2 | 350.77 | -2.33 % | ||
| S3 | 343.78 | -4.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 399.00 | 11.10 % | |
| R2 | 383.45 | 6.77 % | ||
| R1 | 374.40 | 4.25 % | ||
| Current price | 359.15 | |||
| Support | S1 | 351.85 | -2.03% | |
| S2 | 323.90 | -9.81% | ||
| S3 | 304.20 | -15.30% |
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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