IndoStar Capital Finance Limit Stock Forecast

Weaker technical forecast for IndoStar Capital Finance Limit as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)

INDOSTAR.BO Signals & Forecast

The IndoStar Capital Finance Limit stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹258.66. On a fall, the stock will find some support from the long-term average at approximately ₹236.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -6.72%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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.

Buy

Special Signal Notification

Golden Star 12 Months

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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should fall by -18.67% to ₹204.47 within 39 trading days since signal was issued (Friday, August 16, 2024).

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

IndoStar Capital Finance Limit finds support from accumulated volume at ₹249.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹23.90 between high and low, or 9.63%. For the last week, the stock has had daily average volatility of 6.20%.

Our recommended stop-loss: ₹241.66 (-3.87%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (INDOSTAR.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect IndoStar Capital Finance Limit to open at ₹257.17, and during the day (based on 14 day Average True Range), to move between ₹235.73 and ₹267.07, which gives a possible trading interval of +/-₹15.67 (+/-6.23%) 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 12.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹249.35 (0.82%) than the resistance at ₹255.75 (1.73%), 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, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.553 Hold/Accumulate Downgraded

Predicted Opening Price for IndoStar Capital Finance Limit of Monday, June 24, 2024

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