India Cements Capital Limited Stock Forecast
Evaluation of India Cements Capital Limited stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The India Cements Capital Limited stock price gained 5.00% on the last trading day (Friday, 28th Jun 2024), rising from ₹19.60 to ₹20.58. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0% from a day low at ₹20.58 to a day high of ₹20.58. The price has risen in 6 of the last 10 days and is up by 14.33% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 20 thousand shares were bought and sold for approximately ₹419.77 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹19.99, a level that may pose a second chance to hit a runner. According to fan-theory ₹22.27 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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INDCEMCAP.BO Signals & Forecast
The India Cements Capital 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 ₹18.68 and ₹18.65. 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 15.68%. 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 India Cements Capital Limited stock
India Cements Capital Limited finds support from accumulated volume at ₹19.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: ₹19.94 (-3.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (INDCEMCAP.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect India Cements Capital Limited to open at ₹20.58, and during the day (based on 14 day Average True Range), to move between ₹19.47 and ₹21.69, which gives a possible trading interval of +/-₹1.11 (+/-5.40%) 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 10.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹19.80, some ₹0.780 (3.79%) from the current price of ₹20.58, our system finds the risk reward attractive.
Is India Cements Capital Limited stock A Buy?
India Cements Capital 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for India Cements Capital Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹20.58 ( 0%) | ₹20.58 |
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 | 20.58 | - |
| R2 | 20.58 | - |
| R1 | 20.58 | - |
| Price | 20.58 | |
| S1 | 20.58 | - |
| S2 | 20.58 | - |
| S3 | 20.58 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 20.58 | |
| S1 | 19.80 | -3.79% |
| S2 | 19.60 | -4.76% |
| S3 | 18.67 | -9.28% |
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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