IITL Projects Limited Stock Forecast
Red day on Thursday for IITL Projects Limited stock after losing 0%
(Updated on Jun 20, 2024)
No changes to the price of IITL Projects Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 2.00% from a day low at ₹49.56 to a day high of ₹50.55. The price has risen in 5 of the last 10 days and is up by 11.1% over the past 2 weeks.
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 ₹52.28 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 -25.67% during the next 3 months and, with a 90% probability hold a price between ₹27.62 and ₹38.86 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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IITLPROJ.BO Signals & Forecast
The IITL Projects 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 ₹49.70. On a fall, the stock will find some support from the long-term average at approximately ₹47.12. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, June 14, 2024, and so far it has fallen -6.89%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for IITL Projects Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹47.05 and ₹46.79. 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, IITL Projects Limited finds support just below today's level at ₹47.05. If this is broken, then the next support from accumulated volume will be at ₹46.79 and ₹43.74.
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 ₹0.99 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 5.42%.
Our recommended stop-loss: ₹47.50 (-4.15%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (IITLPROJ.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect IITL Projects Limited to open at ₹49.89, and during the day (based on 14 day Average True Range), to move between ₹47.22 and ₹51.90, which gives a possible trading interval of +/-₹2.34 (+/-4.72%) up or down from last closing price. If IITL Projects Limited takes out the full calculated possible swing range there will be an estimated 9.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹49.61 (0.10%) than the support at ₹47.05 (5.06%), 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 IITL Projects 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.
Current score: 1.199 Buy Candidate Unchanged
Predicted Opening Price for IITL Projects Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
₹49.89 ( 0.666%) | ₹49.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IITLPROJ.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 50.88 | 2.66% |
R2 | 50.50 | 1.90% |
R1 | 50.27 | 1.43% |
Price | 49.56 | |
S1 | 49.51 | -0.0972% |
S2 | 49.28 | -0.569% |
S3 | 48.90 | -1.33% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 58.55 | 18.14% |
R2 | 54.69 | 10.35% |
R1 | 49.61 | 0.101% |
Price | 49.56 | |
S1 | 47.05 | -5.06% |
S2 | 46.79 | -5.59% |
S3 | 43.74 | -11.74% |
FAQ
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