Vodafone Idea Limited Stock Forecast
Vodafone Idea Limited stock upgraded to Hold/Accumulate.
(Updated on May 09, 2024)
The Vodafone Idea Limited stock price fell by -0.394% on the last day (Thursday, 9th May 2024) from ₹12.70 to ₹12.65. During the last trading day the stock fluctuated 3.17% from a day low at ₹12.60 to a day high of ₹13.00. The price has fallen in 5 of the last 10 days and is down by -8.33% for this period. Volume has increased on the last day by 3 million 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, 640 million shares were bought and sold for approximately ₹8.10 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 -15.80% during the next 3 months and, with a 90% probability hold a price between ₹8.90 and ₹12.75 at the end of this 3-month period.
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IDEA.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 2.02%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vodafone Idea Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹12.88 and ₹13.16. A break-up above any of these levels will issue buy signals. 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 Vodafone Idea Limited stock
Vodafone Idea Limited finds support from accumulated volume at ₹12.40 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 ₹0.400 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 4.32%.
Our recommended stop-loss: ₹12.10 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (IDEA.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Vodafone Idea Limited to open at ₹12.75, and during the day (based on 14 day Average True Range), to move between ₹11.91 and ₹13.39, which gives a possible trading interval of +/-₹0.735 (+/-5.81%) up or down from last closing price. If Vodafone Idea Limited takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹12.40 (1.98%) than the resistance at ₹12.95 (2.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vodafone Idea Limited stock A Buy?
Vodafone Idea Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.013 Hold/Accumulate Upgraded
Predicted Opening Price for Vodafone Idea Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹12.75 ( 0.791%) | ₹12.65 |
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 | 13.15 | 3.95 % | |
| R2 | 13.00 | 2.74 % | ||
| R1 | 12.90 | 2.00 % | ||
| Current price: | 12.65 | |||
| Support | S1 | 12.60 | -0.417 % | |
| S2 | 12.50 | -1.16 % | ||
| S3 | 12.35 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.45 | 6.32 % | |
| R2 | 13.20 | 4.35 % | ||
| R1 | 12.95 | 2.37 % | ||
| Current price | 12.65 | |||
| Support | S1 | 12.40 | -1.98% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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