IIFL Finance Limited Stock Forecast

IIFL Finance Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)

IIFL.NS Signals & Forecast

The IIFL Finance Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹408.11. On a fall, the stock will find some support from the long-term average at approximately ₹389.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -9.57%. 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 IIFL Finance Limited stock

IIFL Finance Limited finds support from accumulated volume at ₹401.25 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 ₹7.85 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.03%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IIFL.NS) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect IIFL Finance Limited to open at ₹401.23, and during the day (based on 14 day Average True Range), to move between ₹384.38 and ₹418.32, which gives a possible trading interval of +/-₹16.97 (+/-4.23%) up or down from last closing price. If IIFL Finance Limited takes out the full calculated possible swing range there will be an estimated 8.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹401.25 (0.02%) than the resistance at ₹420.25 (4.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is IIFL Finance Limited stock A Buy?

IIFL Finance Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.869 Sell Candidate Downgraded

Predicted Opening Price for IIFL Finance Limited of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.