Ind Bank Housing Limited Stock Forecast
Stronger technical forecast for Ind Bank Housing Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The Ind Bank Housing Limited stock price gained 1.58% on the last trading day (Friday, 14th Jun 2024), rising from ₹50.77 to ₹51.57. During the last trading day the stock fluctuated 5.47% from a day low at ₹50.31 to a day high of ₹53.06. The price has risen in 8 of the last 10 days and is up by 5.4% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 9 thousand shares were bought and sold for approximately ₹457.63 thousand. 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 upper part of a very wide and weak 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 ₹53.26 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.75% during the next 3 months and, with a 90% probability hold a price between ₹42.90 and ₹55.79 at the end of this 3-month period.
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INDBNK.BO Signals & Forecast
The Ind Bank Housing 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 ₹49.39 and ₹48.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 26.96%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Ind Bank Housing Limited stock
Ind Bank Housing Limited finds support from accumulated volume at ₹50.77 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹2.75 between high and low, or 5.47%. For the last week the stock has had daily average volatility of 6.57%.
Our recommended stop-loss: ₹49.81 (-3.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (INDBNK.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Ind Bank Housing Limited to open at ₹51.65, and during the day (based on 14 day Average True Range), to move between ₹48.00 and ₹55.14, which gives a possible trading interval of +/-₹3.57 (+/-6.92%) up or down from last closing price. If Ind Bank Housing Limited takes out the full calculated possible swing range there will be an estimated 13.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹50.77, some ₹0.800 (1.55%) from the current price of ₹51.57, our system finds the risk reward attractive.
Is Ind Bank Housing 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 Ind Bank Housing Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.858 Buy Candidate Upgraded
Predicted Opening Price for Ind Bank Housing Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹51.65 ( 0.149%) | ₹51.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDBNK.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 54.40 | 5.48% |
| R2 | 53.35 | 3.44% |
| R1 | 52.70 | 2.19% |
| Price | 51.57 | |
| S1 | 50.60 | -1.89% |
| S2 | 49.95 | -3.15% |
| S3 | 48.90 | -5.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 51.57 | |
| S1 | 50.77 | -1.55% |
| S2 | 49.66 | -3.70% |
| S3 | 40.62 | -21.23% |
FAQ
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