India Cements Capital Limited Stock Forecast
India Cements Capital Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The India Cements Capital Limited stock price gained 4.59% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹17.85 to ₹18.67. During the last trading day the stock fluctuated 7.02% from a day low at ₹17.51 to a day high of ₹18.74. The price has fallen in 6 of the last 10 days but is still up by 2.3% 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, 15 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately ₹424.69 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.36% during the next 3 months and, with a 90% probability hold a price between ₹16.46 and ₹19.03 at the end of this 3-month period.
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INDCEMCAP.BO Signals & Forecast
Mostly positive signals in the chart today. The India Cements Capital Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹18.13 and ₹18.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 4.95%. 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). India Cements Capital Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for India Cements Capital Limited stock
India Cements Capital Limited finds support from accumulated volume at ₹18.55 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 ₹1.23 (7.02%) between high and low. For the last week, the stock has had daily average volatility of 6.12%.
Our recommended stop-loss: ₹17.89 (-4.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (INDCEMCAP.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect India Cements Capital Limited to open at ₹18.31, and during the day (based on 14 day Average True Range), to move between ₹17.59 and ₹19.75, which gives a possible trading interval of +/-₹1.08 (+/-5.80%) up or down from last closing price. If India Cements Capital Limited takes out the full calculated possible swing range there will be an estimated 11.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹18.55 (0.64%) than the resistance at ₹19.75 (5.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is India Cements Capital 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.306 Buy Candidate Upgraded
Predicted Opening Price for India Cements Capital Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹18.31 ( 1.95%) | ₹18.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDCEMCAP.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.54 | 4.64% |
| R2 | 19.07 | 2.13% |
| R1 | 18.78 | 0.571% |
| Price | 18.67 | |
| S1 | 17.84 | -4.46% |
| S2 | 17.55 | -6.02% |
| S3 | 17.08 | -8.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.39 | 9.21% |
| R2 | 19.80 | 6.05% |
| R1 | 19.75 | 5.78% |
| Price | 18.67 | |
| S1 | 18.55 | -0.643% |
| S2 | 18.50 | -0.91% |
| S3 | 17.79 | -4.71% |
INDCEMCAP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2002 | Aug 28, 2002 | Aug 28, 2002 | ₹0.500 | 5.62% |
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