IFCI Limited Stock Forecast
Volatile ride for IFCI Limited stock price on Friday moving between ₹55.54 and ₹61.46
(Updated on May 17, 2024)
The IFCI Limited stock price gained 9.97% on the last trading day (Friday, 17th May 2024), rising from ₹55.88 to ₹61.45. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.66% from a day low at ₹55.54 to a day high of ₹61.46. The price has risen in 7 of the last 10 days and is up by 17.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ₹674.39 million.
Given the current short-term trend, the stock is expected to rise 14.96% during the next 3 months and, with a 90% probability hold a price between ₹49.26 and ₹70.64 at the end of this 3-month period.
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IFCI.BO Signals & Forecast
The IFCI 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 ₹54.05 and ₹46.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 63.17%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for IFCI Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹52.94 and ₹52.51. 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, IFCI Limited finds support just below today's level at ₹52.94. If this is broken, then the next support from accumulated volume will be at ₹52.51 and ₹50.10.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹5.92 between high and low, or 10.66%. For the last week, the stock has had daily average volatility of 6.15%.
Our recommended stop-loss: ₹59.30 (-3.50%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (IFCI.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect IFCI Limited to open at ₹59.48, and during the day (based on 14 day Average True Range), to move between ₹58.26 and ₹64.64, which gives a possible trading interval of +/-₹3.19 (+/-5.19%) up or down from last closing price. If IFCI Limited takes out the full calculated possible swing range there will be an estimated 10.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹52.94, some ₹8.51 (13.85%) from the current price of ₹61.45, our system finds the risk reward attractive.
Is IFCI Limited stock A Buy?
IFCI Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for IFCI Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹59.48 ( 3.20%) | ₹61.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IFCI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.40 | 6.43 % | |
| R2 | 63.14 | 2.75 % | ||
| R1 | 61.74 | 0.480 % | ||
| Current price: | 61.45 | |||
| Support | S1 | 57.22 | -6.88 % | |
| S2 | 55.82 | -9.15 % | ||
| S3 | 53.56 | -12.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 61.45 | |||
| Support | S1 | 52.94 | -13.85% | |
| S2 | 52.51 | -14.55% | ||
| S3 | 50.10 | -18.47% |
IFCI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 17, 2016 | Feb 17, 2016 | Feb 17, 2016 | ₹1.00 | 4.84% |
| 2 | Sep 11, 2015 | Sep 11, 2015 | Sep 11, 2015 | ₹0.500 | 2.48% |
| 3 | Mar 02, 2015 | Mar 02, 2015 | Mar 02, 2015 | ₹1.00 | 2.65% |
| 4 | Aug 13, 2014 | Aug 13, 2014 | Aug 13, 2014 | ₹1.00 | 2.81% |
| 5 | Oct 31, 2013 | Oct 31, 2013 | Oct 31, 2013 | ₹1.00 | 4.14% |
FAQ
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