The Indian Card Clothing Company Limited Stock Forecast
The Indian Card Clothing Company Limited stock price up more than 5.21% on Friday
(Updated on May 17, 2024)
The The Indian Card Clothing Company Limited stock price gained 5.21% on the last trading day (Friday, 17th May 2024), rising from ₹273.35 to ₹287.60. During the last trading day the stock fluctuated 8.94% from a day low at ₹270.00 to a day high of ₹294.15. The price has been going up and down for this period, and there has been a 6.13% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately ₹1.44 million.
The stock lies in the upper part of a 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 ₹290.29 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.60% during the next 3 months and, with a 90% probability hold a price between ₹254.44 and ₹303.63 at the end of this 3-month period.
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INDIANCARD.BO Signals & Forecast
The The Indian Card Clothing 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 ₹272.71 and ₹267.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 22.28%. Further rise is indicated until a new top pivot has been found. The Indian Card Clothing Company 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Indian Card Clothing Company Limited stock
The Indian Card Clothing Company Limited finds support from accumulated volume at ₹286.70 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 ₹24.15 (8.94%) between high and low. For the last week, the stock has had daily average volatility of 4.28%.
Our recommended stop-loss: ₹276.33 (-3.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (INDIANCARD.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect The Indian Card Clothing Company Limited to open at ₹283.92, and during the day (based on 14 day Average True Range), to move between ₹272.00 and ₹303.20, which gives a possible trading interval of +/-₹15.60 (+/-5.42%) up or down from last closing price. If The Indian Card Clothing Company Limited takes out the full calculated possible swing range there will be an estimated 10.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹286.70, some ₹0.90 (0.31%) from the current price of ₹287.60, our system finds the risk reward attractive.
Is The Indian Card Clothing Company 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 The Indian Card Clothing Company Limited stock to perform well in the short-term.
Current score: 4.368 Buy Candidate Unchanged
Predicted Opening Price for The Indian Card Clothing Company Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹283.92 ( 1.28%) | ₹287.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDIANCARD.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 308.07 | 7.12 % | |
| R2 | 298.84 | 3.91 % | ||
| R1 | 293.14 | 1.93 % | ||
| Current price: | 287.60 | |||
| Support | S1 | 274.69 | -4.49 % | |
| S2 | 268.99 | -6.47 % | ||
| S3 | 259.77 | -9.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 287.60 | |||
| Support | S1 | 286.70 | -0.313% | |
| S2 | 246.30 | -14.36% | ||
| S3 | 240.45 | -16.39% |
INDIANCARD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2022 | Jul 07, 2022 | Sep 01, 2022 | ₹25.00 | 10.95% |
| 2 | Aug 25, 2016 | Aug 25, 2016 | Aug 25, 2016 | ₹10.00 | 4.03% |
| 3 | Aug 04, 2016 | Aug 04, 2016 | Aug 04, 2016 | ₹2.50 | 0.96% |
| 4 | May 31, 2016 | May 31, 2016 | May 31, 2016 | ₹12.00 | 5.22% |
| 5 | Jul 29, 2015 | Jul 29, 2015 | Jul 29, 2015 | ₹2.50 | 1.97% |
FAQ
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