The Indian Hotels Company Limited Stock Forecast
Weaker technical forecast for The Indian Hotels Company Limited as stock downgraded to Sell Candidate.
(Updated on May 07, 2024)
The The Indian Hotels Company Limited stock price fell by -0.91% on the last day (Tuesday, 7th May 2024) from ₹571.30 to ₹566.10. During the last trading day the stock fluctuated 4.63% from a day low at ₹559.00 to a day high of ₹584.90. The price has fallen in 6 of the last 10 days and is down by -6.32% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately ₹2.26 billion.
Given the current short-term trend, the stock is expected to rise 7.99% during the next 3 months and, with a 90% probability hold a price between ₹611.33 and ₹686.25 at the end of this 3-month period.
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INDHOTEL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The The Indian Hotels Company Limited 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 ₹574.32 and ₹584.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -8.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Indian Hotels Company Limited stock
The Indian Hotels Company Limited finds support from accumulated volume at ₹544.70 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 ₹25.90 (4.63%) between high and low. For the last week, the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDHOTEL.NS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect The Indian Hotels Company Limited to open at ₹570.00, and during the day (based on 14 day Average True Range), to move between ₹549.36 and ₹582.84, which gives a possible trading interval of +/-₹16.74 (+/-2.96%) 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 5.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹568.95 (0.50%) than the support at ₹544.70 (3.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is The Indian Hotels Company Limited stock A Buy?
The The Indian Hotels Company Limited stock holds several negative signals and despite the positive trend, we believe The Indian Hotels Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.752 Sell Candidate Downgraded
Predicted Opening Price for The Indian Hotels Company Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹570.00 ( 0.689%) | ₹566.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDHOTEL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 595.90 | 5.26 % | |
| R2 | 586.01 | 3.52 % | ||
| R1 | 579.89 | 2.44 % | ||
| Current price: | 566.10 | |||
| Support | S1 | 560.11 | -1.06 % | |
| S2 | 553.99 | -2.14 % | ||
| S3 | 544.10 | -3.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 579.70 | 2.40 % | |
| R2 | 577.25 | 1.97 % | ||
| R1 | 568.95 | 0.503 % | ||
| Current price | 566.10 | |||
| Support | S1 | 544.70 | -3.78% | |
| S2 | 532.95 | -5.86% | ||
| S3 | 530.40 | -6.31% |
INDHOTEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ₹1.00 | 0.262% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | ₹0.400 | 0.186% |
| 3 | Jun 14, 2021 | Jun 14, 2021 | Jun 14, 2021 | ₹0.388 | 0.289% |
| 4 | Jun 10, 2020 | Jul 17, 2020 | Aug 03, 2020 | ₹0.485 | 0.628% |
| 5 | Apr 30, 2019 | Jun 12, 2019 | Jun 28, 2019 | ₹0.485 | 0.308% |
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