The Indian Hotels Company Limited Stock Forecast
The Indian Hotels Company Limited stock price ended at ₹659.50 on Tuesday, after gaining 1.69%.
(Updated on Jun 25, 2024)
The The Indian Hotels Company Limited stock price gained 1.69% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹648.55 to ₹659.50. During the last trading day the stock fluctuated 2.01% from a day low at ₹648.00 to a day high of ₹661.00. The price has risen in 7 of the last 10 days and is up by 13.22% 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, 100 thousand more shares were traded than the day before. In total, 267 thousand shares were bought and sold for approximately ₹175.99 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹624.71 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹718.12 sometime during the next 3 months.
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INDHOTEL.BO Signals & Forecast
The The Indian Hotels Company 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 ₹633.58 and ₹581.42. 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 24.54%. 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.
Support, Risk & Stop-loss for The Indian Hotels Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹577.25 and ₹568.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Indian Hotels Company Limited finds support just below today's level at ₹577.25. If this is broken, then the next support from accumulated volume will be at ₹568.35 and ₹529.55.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹13.00 between high and low, or 2.01%. For the last week, the stock has had daily average volatility of 2.82%.
The The Indian Hotels Company Limited stock is extremely overbought on RSI14 (94). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹625.73 (-5.12%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 94 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (INDHOTEL.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect The Indian Hotels Company Limited to open at ₹656.17, and during the day (based on 14 day Average True Range), to move between ₹641.48 and ₹677.52, which gives a possible trading interval of +/-₹18.02 (+/-2.73%) up or down from last closing price. If The Indian Hotels Company Limited takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹577.25, some ₹82.25 (12.47%) from the current price of ₹659.50, our system finds the risk reward attractive.
Is The Indian Hotels Company Limited stock A Buy?
The Indian Hotels Company 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: 0.000 Hold/Accumulate Unchanged
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 The Indian Hotels Company Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹656.17 ( 0.505%) | ₹659.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDHOTEL.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 669.17 | 1.47% |
R2 | 664.20 | 0.713% |
R1 | 661.13 | 0.248% |
Price | 659.50 | |
S1 | 651.20 | -1.26% |
S2 | 648.13 | -1.72% |
S3 | 643.17 | -2.48% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 659.50 | |
S1 | 577.25 | -12.47% |
S2 | 568.35 | -13.82% |
S3 | 529.55 | -19.70% |
INDHOTEL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 07, 2024 | Jun 07, 2024 | Jul 14, 2024 | ₹1.75 | 0.265% |
2 | Jun 09, 2023 | Jun 09, 2023 | Jul 16, 2023 | ₹1.00 | 0.257% |
3 | Aug 11, 2017 | Aug 11, 2017 | Sep 20, 2017 | ₹0.350 | 0.336% |
4 | Aug 12, 2016 | Aug 12, 2016 | Aug 12, 2016 | ₹0.300 | 0.260% |
5 | Jul 17, 2013 | Jul 17, 2013 | Jul 17, 2013 | ₹0.80 | 1.76% |
FAQ
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