IIFL Finance Limited Stock Forecast
A very strong day for IIFL Finance Limited stock price on Friday
(Updated on Jun 28, 2024)
The IIFL Finance Limited stock price gained 7.69% on the last trading day (Friday, 28th Jun 2024), rising from ₹480.50 to ₹517.45. During the last trading day the stock fluctuated 8.36% from a day low at ₹481.65 to a day high of ₹521.90. The price has fallen in 6 of the last 10 days but is still up by 9.58% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 666 thousand shares were bought and sold for approximately ₹344.68 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising 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 ₹526.68 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.26% during the next 3 months and, with a 90% probability hold a price between ₹521.81 and ₹638.65 at the end of this 3-month period.
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IIFL.BO Signals & Forecast
The IIFL Finance 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 ₹482.05 and ₹432.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 37.55%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for IIFL Finance Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹480.50 and ₹443.90. 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, IIFL Finance Limited finds support just below today's level at ₹480.50. If this is broken, then the next support from accumulated volume will be at ₹443.90 and ₹400.90.
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 ₹40.25 between high and low, or 8.36%. For the last week, the stock has had daily average volatility of 5.74%.
Our recommended stop-loss: ₹500.89 (-3.20%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (IIFL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect IIFL Finance Limited to open at ₹507.00, and during the day (based on 14 day Average True Range), to move between ₹494.49 and ₹540.41, which gives a possible trading interval of +/-₹22.96 (+/-4.44%) up or down from last closing price. If IIFL Finance Limited takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹480.50, some ₹36.95 (7.14%) from the current price of ₹517.45, our system finds the risk reward attractive.
Is IIFL Finance Limited stock A Buy?
IIFL Finance Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.140 Strong Buy Candidate Upgraded
Predicted Opening Price for IIFL Finance Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹507.00 ( 2.02%) | ₹517.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IIFL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 547.25 | 5.76% |
| R2 | 531.87 | 2.79% |
| R1 | 522.38 | 0.95% |
| Price | 517.45 | |
| S1 | 491.62 | -4.99% |
| S2 | 482.13 | -6.83% |
| S3 | 466.75 | -9.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 517.45 | |
| S1 | 480.50 | -7.14% |
| S2 | 443.90 | -14.21% |
| S3 | 400.90 | -22.52% |
IIFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Jan 25, 2024 | Jan 25, 2024 | ₹4.00 | 0.685% |
| 2 | Feb 07, 2023 | Feb 07, 2023 | Feb 28, 2023 | ₹4.00 | 0.95% |
| 3 | Feb 02, 2017 | Feb 02, 2017 | Feb 24, 2017 | ₹4.50 | 2.79% |
| 4 | Feb 05, 2016 | Feb 05, 2016 | Feb 05, 2016 | ₹4.25 | 5.13% |
| 5 | Sep 23, 2014 | Sep 23, 2014 | Sep 23, 2014 | ₹3.00 | 4.58% |
FAQ
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