Indian Metals and Ferro Alloys Limited Stock Forecast
Indian Metals and Ferro Alloys Limited stock price ended at ₹796.85 on Friday, after gaining 0.720%.
(Updated on Jun 21, 2024)
The Indian Metals and Ferro Alloys Limited stock price gained 0.720% on the last trading day (Friday, 21st Jun 2024), rising from ₹791.15 to ₹796.85. During the last trading day the stock fluctuated 2.53% from a day low at ₹790.00 to a day high of ₹810.00. The price has risen in 5 of the last 10 days and is up by 9.37% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹5.63 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.38% during the next 3 months and, with a 90% probability hold a price between ₹710.34 and ₹982.07 at the end of this 3-month period.
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IMFA.BO Signals & Forecast
The Indian Metals and Ferro Alloys 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 ₹789.25 and ₹729.27. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 11, 2024, and so far it has fallen -7.57%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Indian Metals and Ferro Alloys Limited stock
Indian Metals and Ferro Alloys Limited finds support from accumulated volume at ₹757.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹20.00 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 3.75%.
Our recommended stop-loss: ₹760.90 (-4.51%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (IMFA.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Indian Metals and Ferro Alloys Limited to open at ₹798.95, and during the day (based on 14 day Average True Range), to move between ₹755.44 and ₹838.26, which gives a possible trading interval of +/-₹41.41 (+/-5.20%) up or down from last closing price. If Indian Metals and Ferro Alloys Limited takes out the full calculated possible swing range there will be an estimated 10.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹806.75 (1.24%) than the support at ₹757.50 (4.94%), 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 Indian Metals and Ferro Alloys Limited stock A Buy?
Indian Metals and Ferro Alloys Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.934 Hold/Accumulate Unchanged
Predicted Opening Price for Indian Metals and Ferro Alloys Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹798.95 ( 0.264%) | ₹796.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMFA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 818.95 | 2.77% |
| R2 | 811.31 | 1.81% |
| R1 | 806.59 | 1.22% |
| Price | 796.85 | |
| S1 | 791.31 | -0.695% |
| S2 | 786.59 | -1.29% |
| S3 | 778.95 | -2.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 862.10 | 8.19% |
| R1 | 806.75 | 1.24% |
| Price | 796.85 | |
| S1 | 757.50 | -4.94% |
| S2 | 738.05 | -7.38% |
| S3 | 731.30 | -8.23% |
IMFA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2024 | Jul 25, 2024 | Aug 30, 2024 | ₹7.50 | 0.94% |
| 2 | Apr 08, 2024 | Apr 08, 2024 | Apr 27, 2024 | ₹15.00 | 2.08% |
| 3 | Nov 10, 2023 | Nov 10, 2023 | Dec 02, 2023 | ₹7.50 | 1.45% |
| 4 | Jul 21, 2023 | Jul 21, 2023 | Aug 25, 2023 | ₹5.00 | 1.36% |
| 5 | Nov 03, 2022 | Nov 03, 2022 | Aug 25, 2022 | ₹5.00 | 1.87% |
FAQ
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