Indbank Merchant Banking Services Ltd 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
Green day on Friday for Indbank Merchant Banking Services Ltd
(Updated on May 31, 2024)
The Indbank Merchant Banking Services Ltd stock price gained 0.316% on the last trading day (Friday, 31st May 2024), rising from ₹47.45 to ₹47.60. During the last trading day the stock fluctuated 2.88% from a day low at ₹46.80 to a day high of ₹48.15. The price has fallen in 6 of the last 10 days and is down by -1.35% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 162 thousand shares were bought and sold for approximately ₹7.71 million.
The stock lies in the middle of a very wide and weak 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 7.12% during the next 3 months and, with a 90% probability hold a price between ₹46.57 and ₹64.53 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
INDBANK.NS Signals & Forecast
There are mixed signals in the stock today. The Indbank Merchant Banking Services Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹48.51 and ₹48.92. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 2.70%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Wednesday, March 20, 2024 with a target of ₹43.73. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Indbank Merchant Banking Services Ltd stock
Indbank Merchant Banking Services Ltd finds support from accumulated volume at ₹46.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹1.35 (2.88%) between high and low. For the last week, the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDBANK.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Indbank Merchant Banking Services Limited to open at ₹47.52, and during the day (based on 14 day Average True Range), to move between ₹45.59 and ₹49.61, which gives a possible trading interval of +/-₹2.01 (+/-4.22%) up or down from last closing price. If Indbank Merchant Banking Services Limited takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹46.35 (2.63%) than the resistance at ₹50.00 (5.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Indbank Merchant Banking Services Limited stock A Buy?
Indbank Merchant Banking Services Ltd 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.
Current score: -1.657 Sell Candidate Unchanged
Predicted Opening Price for Indbank Merchant Banking Services Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹47.52 ( 0.175%) | ₹47.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDBANK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.87 | 2.66 % | |
| R2 | 48.35 | 1.58 % | ||
| R1 | 48.03 | 0.91 % | ||
| Current price: | 47.60 | |||
| Support | S1 | 47.00 | -1.26 % | |
| S2 | 46.68 | -1.93 % | ||
| S3 | 46.17 | -3.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.30 | 18.28 % | |
| R2 | 52.65 | 10.61 % | ||
| R1 | 50.00 | 5.04 % | ||
| Current price | 47.60 | |||
| Support | S1 | 46.35 | -2.63% | |
| S2 | 44.80 | -5.88% | ||
| S3 | 40.05 | -15.86% |
INDBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2009 | Aug 07, 2009 | Oct 01, 2009 | ₹0.750 | 3.64% |
FAQ
Click here for our free guide on how to buy Indbank Merchant Banking Services Limited Stock.
