IIFL Finance Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
IIFL Finance Limited stock price up 1.73% on Tuesday
(Updated on Jul 02, 2024)
The IIFL Finance Limited stock price gained 1.73% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹510.85 to ₹519.70. During the last trading day the stock fluctuated 5.23% from a day low at ₹506.50 to a day high of ₹533.00. The price has fallen in 6 of the last 10 days but is still up by 7.88% 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, 2 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately ₹2.95 billion.
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 ₹521.60 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.78% during the next 3 months and, with a 90% probability hold a price between ₹512.42 and ₹624.77 at the end of this 3-month period.
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IIFL.NS 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 ₹493.19 and ₹440.00. 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 38.07%. 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. 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 ₹470.50 and ₹424.85. 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 ₹470.50. If this is broken, then the next support from accumulated volume will be at ₹424.85 and ₹401.25.
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 ₹26.50 between high and low, or 5.23%. For the last week, the stock has had daily average volatility of 6.38%.
Our recommended stop-loss: ₹500.68 (-3.66%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (IIFL.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect IIFL Finance Limited to open at ₹519.73, and during the day (based on 14 day Average True Range), to move between ₹496.93 and ₹542.47, which gives a possible trading interval of +/-₹22.77 (+/-4.38%) up or down from last closing price. If IIFL Finance Limited takes out the full calculated possible swing range there will be an estimated 8.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹470.50, some ₹49.20 (9.47%) from the current price of ₹519.70, our system finds the risk reward attractive.
Is IIFL Finance Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for IIFL Finance Limited stock to perform well in the short-term.
Current score: 4.427 Buy Candidate Unchanged
Predicted Opening Price for IIFL Finance Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹519.73 ( 0.0064%) | ₹519.70 |
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 | |
|---|---|---|
| R3 | 546.23 | 5.11% |
| R2 | 536.11 | 3.16% |
| R1 | 529.86 | 1.95% |
| Price | 519.70 | |
| S1 | 509.61 | -1.94% |
| S2 | 503.36 | -3.14% |
| S3 | 493.23 | -5.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 519.70 | |
| S1 | 470.50 | -9.47% |
| S2 | 424.85 | -18.25% |
| S3 | 401.25 | -22.79% |
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% |
FAQ
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