Indo-City Infotech Limited Stock Forecast

Indo-City Infotech Limited stock price down 0.656% on Friday
(Updated on Jun 14, 2024)

INDOCITY.BO Signals & Forecast

There are mixed signals in the stock today. The Indo-City Infotech Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹14.29. On a fall, the stock will find some support from the short-term average at ₹13.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -21.62%. Further fall is indicated until a new bottom pivot has been found. Indo-City Infotech Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Indo-City Infotech Limited stock

Indo-City Infotech Limited finds support from accumulated volume at ₹13.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ₹0.740 between high and low, or 5.48%. For the last week, the stock has had daily average volatility of 8.29%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (INDOCITY.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Indo-City Infotech Limited to open at ₹13.79, and during the day (based on 14 day Average True Range), to move between ₹12.57 and ₹14.69, which gives a possible trading interval of +/-₹1.06 (+/-7.80%) up or down from last closing price. If Indo-City Infotech Limited takes out the full calculated possible swing range there will be an estimated 15.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹13.61 (0.15%) than the resistance at ₹14.53 (6.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Indo-City Infotech Limited stock A Buy?

Indo-City Infotech Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.485 Sell Candidate Unchanged

Predicted Opening Price for Indo-City Infotech Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.