IFGL Refractories Limited Stock Forecast
IFGL Refractories Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The IFGL Refractories Limited stock price gained 2.49% on the last trading day (Thursday, 25th Apr 2024), rising from ₹640.95 to ₹656.90. During the last trading day the stock fluctuated 3.61% from a day low at ₹635.10 to a day high of ₹658.00. The price has been going up and down for this period, and there has been a -2.43% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately ₹13.75 million.
The stock lies the upper part of a very wide and falling 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 ₹674.98 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -9.27% during the next 3 months and, with a 90% probability hold a price between ₹407.71 and ₹612.40 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IFGLEXPOR.NS Signals & Forecast
The IFGL Refractories 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 ₹640.96 and ₹583.24. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, April 11, 2024, and so far it has fallen -4.17%. 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).
Support, Risk & Stop-loss for IFGL Refractories Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹615.20 and ₹605.30. 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, IFGL Refractories Limited finds support just below today's level at ₹615.20. If this is broken, then the next support from accumulated volume will be at ₹605.30 and ₹570.75.
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 ₹22.90 between high and low, or 3.61%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: ₹626.30 (-4.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (IFGLEXPOR.NS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect IFGL Refractories Limited to open at ₹650.00, and during the day (based on 14 day Average True Range), to move between ₹626.85 and ₹686.95, which gives a possible trading interval of +/-₹30.05 (+/-4.57%) up or down from last closing price. If IFGL Refractories Limited takes out the full calculated possible swing range there will be an estimated 9.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹665.65 (1.33%) than the support at ₹615.20 (6.35%), 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 IFGL Refractories 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.344 Buy Candidate Upgraded
Predicted Opening Price for IFGL Refractories Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹650.00 ( 1.05%) | ₹656.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IFGLEXPOR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 672.90 | 2.44 % | |
| R2 | 664.15 | 1.10 % | ||
| R1 | 658.75 | 0.281 % | ||
| Current price: | 656.90 | |||
| Support | S1 | 641.25 | -2.38 % | |
| S2 | 635.85 | -3.20 % | ||
| S3 | 627.10 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 699.90 | 6.55 % | |
| R2 | 697.80 | 6.23 % | ||
| R1 | 665.65 | 1.33 % | ||
| Current price | 656.90 | |||
| Support | S1 | 615.20 | -6.35% | |
| S2 | 605.30 | -7.86% | ||
| S3 | 570.75 | -13.11% |
IFGLEXPOR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | ₹7.00 | 1.50% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹7.00 | 2.60% |
| 3 | Jul 29, 2021 | Jul 29, 2021 | Jul 29, 2021 | ₹6.00 | 1.49% |
| 4 | Feb 09, 2020 | Feb 17, 2020 | Mar 08, 2020 | ₹2.50 | 1.87% |
| 5 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | ₹2.50 | 1.46% |
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