Indian Terrain Fashions Limited Stock Forecast
Evaluation of Indian Terrain Fashions Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Indian Terrain Fashions Limited stock price gained 1.49% on the last trading day (Friday, 17th May 2024), rising from ₹70.50 to ₹71.55. During the last trading day the stock fluctuated 2.68% from a day low at ₹70.90 to a day high of ₹72.80. The price has fallen in 6 of the last 10 days and is down by -2.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately ₹2.59 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Indian Terrain Fashions Limited stock with a 90% probability to be traded between ₹66.96 and ₹78.80 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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INDTERRAIN.NS Signals & Forecast
There are mixed signals in the stock today. The Indian Terrain Fashions 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 ₹73.52. On a fall, the stock will find some support from the short-term average at ₹70.70. 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 Friday, April 05, 2024, and so far it has fallen -6.90%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Indian Terrain Fashions Limited stock
Indian Terrain Fashions Limited finds support from accumulated volume at ₹70.25 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 ₹1.90 (2.68%) between high and low. For the last week, the stock has had daily average volatility of 3.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDTERRAIN.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Indian Terrain Fashions Limited to open at ₹71.75, and during the day (based on 14 day Average True Range), to move between ₹68.86 and ₹74.24, which gives a possible trading interval of +/-₹2.69 (+/-3.75%) up or down from last closing price. If Indian Terrain Fashions Limited takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹70.25 (1.82%) than the resistance at ₹74.50 (4.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Indian Terrain Fashions Limited stock A Buy?
Indian Terrain Fashions 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. 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: -1.836 Sell Candidate Downgraded
Predicted Opening Price for Indian Terrain Fashions Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹71.75 ( 0.280%) | ₹71.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDTERRAIN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 73.65 | 2.94 % | |
| R2 | 72.92 | 1.92 % | ||
| R1 | 72.48 | 1.29 % | ||
| Current price: | 71.55 | |||
| Support | S1 | 71.02 | -0.735 % | |
| S2 | 70.58 | -1.36 % | ||
| S3 | 69.85 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.15 | 13.42 % | |
| R2 | 79.05 | 10.48 % | ||
| R1 | 74.50 | 4.12 % | ||
| Current price | 71.55 | |||
| Support | S1 | 70.25 | -1.82% | |
| S2 | 69.05 | -3.49% | ||
| S3 | 67.25 | -6.01% |
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