Vodafone Idea Limited Stock Forecast
Vodafone Idea Limited stock price ended at ₹13.45 on Friday, after losing 2.54%.
(Updated on Apr 26, 2024)
The Vodafone Idea Limited stock price fell by -2.54% on the last day (Friday, 26th Apr 2024) from ₹13.80 to ₹13.45. During the last trading day the stock fluctuated 7.87% from a day low at ₹12.70 to a day high of ₹13.70. The price has risen in 5 of the last 10 days and is up by 4.26% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 thousand shares and in total, 2 billion shares were bought and sold for approximately ₹28.88 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.29% during the next 3 months and, with a 90% probability hold a price between ₹9.73 and ₹13.77 at the end of this 3-month period.
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IDEA.NS Signals & Forecast
The Vodafone Idea 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 ₹13.39 and ₹13.31. 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). 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 Tuesday, April 23, 2024, and so far it has fallen -6.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Vodafone Idea Limited stock
Vodafone Idea Limited finds support from accumulated volume at ₹13.10 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 ₹1.00 between high and low, or 7.87%. For the last week, the stock has had daily average volatility of 11.59%.
Our recommended stop-loss: ₹12.65 (-5.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (IDEA.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Vodafone Idea Limited to open at ₹13.28, and during the day (based on 14 day Average True Range), to move between ₹12.49 and ₹14.41, which gives a possible trading interval of +/-₹0.96 (+/-7.16%) up or down from last closing price. If Vodafone Idea Limited takes out the full calculated possible swing range there will be an estimated 14.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹13.65 (1.49%) than the support at ₹13.10 (2.60%), 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 Vodafone Idea Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.526 Buy Candidate Unchanged
Predicted Opening Price for Vodafone Idea Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹13.28 ( 1.24%) | ₹13.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDEA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.28 | 6.20 % | |
| R2 | 13.90 | 3.36 % | ||
| R1 | 13.67 | 1.60 % | ||
| Current price: | 13.45 | |||
| Support | S1 | 12.90 | -4.08 % | |
| S2 | 12.67 | -5.83 % | ||
| S3 | 12.28 | -8.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.40 | 7.06 % | |
| R2 | 13.80 | 2.60 % | ||
| R1 | 13.65 | 1.49 % | ||
| Current price | 13.45 | |||
| Support | S1 | 13.10 | -2.60% | |
| S2 | 12.95 | -3.72% | ||
| S3 | 12.90 | -4.09% |
IDEA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 28, 2016 | Sep 22, 2016 | Oct 30, 2016 | ₹0.362 | 0.787% |
| 2 | Apr 28, 2015 | Sep 18, 2015 | Oct 28, 2015 | ₹0.362 | 0.424% |
| 3 | Apr 28, 2014 | Sep 18, 2014 | Oct 26, 2014 | ₹0.241 | 0.250% |
| 4 | Apr 25, 2013 | Sep 05, 2013 | Oct 16, 2013 | ₹0.181 | 0.162% |
FAQ
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