IndoStar Capital Finance Limit Stock Forecast

IndoStar Capital Finance Limit stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)

INDOSTAR.BO Signals & Forecast

Mostly positive signals in the chart today. The IndoStar Capital Finance Limit 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 ₹243.03 and ₹235.47. 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 26.87%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, December 05, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for IndoStar Capital Finance Limit stock

IndoStar Capital Finance Limit finds support from accumulated volume at ₹255.75 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 ₹18.00 between high and low, or 7.17%. For the last week, the stock has had daily average volatility of 6.38%.

Our recommended stop-loss: ₹253.14 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)

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

For the upcoming trading day on Tuesday, 18th we expect IndoStar Capital Finance Limit to open at ₹260.38, and during the day (based on 14 day Average True Range), to move between ₹245.68 and ₹277.02, which gives a possible trading interval of +/-₹15.67 (+/-5.99%) up or down from last closing price. If IndoStar Capital Finance Limit takes out the full calculated possible swing range there will be an estimated 11.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹255.75 (2.14%) than the resistance at ₹269.60 (3.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is IndoStar Capital Finance Limit stock A Buy?

IndoStar Capital Finance Limit holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.142 Strong Buy Candidate Upgraded

Predicted Opening Price for IndoStar Capital Finance Limit of Tuesday, June 18, 2024

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