IIFL Finance Limited Stock Forecast
Evaluation of IIFL Finance Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The IIFL Finance Limited stock price gained 1.52% on the last trading day (Friday, 17th May 2024), rising from ₹393.70 to ₹399.70. During the last trading day the stock fluctuated 2.12% from a day low at ₹396.60 to a day high of ₹405.00. The price has been going up and down for this period, and there has been a -0.41% 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, 181 thousand more shares were traded than the day before. In total, 697 thousand shares were bought and sold for approximately ₹278.75 million.
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 -25.30% during the next 3 months and, with a 90% probability hold a price between ₹166.72 and ₹360.91 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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IIFL.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 24.36%. Further rise is indicated until a new top pivot has been found. 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. The IIFL Finance Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹400.33. On a fall, the stock will find some support from the short-term average at ₹394.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 ₹389.00 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 ₹8.40 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 3.03%.
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 20th
For the upcoming trading day on Monday, 20th we expect IIFL Finance Limited to open at ₹400.43, and during the day (based on 14 day Average True Range), to move between ₹381.64 and ₹417.76, which gives a possible trading interval of +/-₹18.06 (+/-4.52%) up or down from last closing price. If IIFL Finance Limited takes out the full calculated possible swing range there will be an estimated 9.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹401.25 (0.39%) than the support at ₹389.00 (2.68%), 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 IIFL Finance Limited stock A Buy?
IIFL Finance Limited holds several negative signals and we believe that 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: -1.544 Sell Candidate Downgraded
Predicted Opening Price for IIFL Finance Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹400.43 ( 0.183%) | ₹399.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IIFL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 408.83 | 2.29 % | |
| R2 | 405.62 | 1.48 % | ||
| R1 | 403.64 | 0.99 % | ||
| Current price: | 399.70 | |||
| Support | S1 | 397.22 | -0.619 % | |
| S2 | 395.24 | -1.12 % | ||
| S3 | 392.03 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 424.85 | 6.29 % | |
| R2 | 420.25 | 5.14 % | ||
| R1 | 401.25 | 0.388 % | ||
| Current price | 399.70 | |||
| Support | S1 | 389.00 | -2.68% | |
| S2 | 382.20 | -4.38% | ||
| S3 | 351.95 | -11.95% |
IIFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Jan 25, 2024 | Feb 15, 2024 | ₹4.00 | 0.711% |
| 2 | Feb 07, 2023 | Feb 07, 2023 | Feb 07, 2023 | ₹4.00 | 0.86% |
| 3 | Feb 03, 2022 | Feb 03, 2022 | Feb 03, 2022 | ₹3.50 | 1.02% |
| 4 | Feb 04, 2021 | Feb 04, 2021 | Feb 04, 2021 | ₹3.00 | 1.56% |
| 5 | Mar 05, 2020 | Mar 19, 2020 | Mar 24, 2020 | ₹2.25 | 3.13% |
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