Indus Towers Limited Stock Forecast
Indus Towers Limited stock price up 1.28% on Tuesday
(Updated on Jun 25, 2024)
The Indus Towers Limited stock price gained 1.28% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹339.85 to ₹344.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.16% from a day low at ₹341.00 to a day high of ₹344.95. The price has risen in 6 of the last 10 days but is still down by -1.13% for this period. Volume fell on the last day by -8 million shares and in total, 20 million shares were bought and sold for approximately ₹6.95 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹346.22 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Indus Towers Limited stock with a 90% probability to be traded between ₹301.71 and ₹342.21 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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INDUSTOWER.NS Signals & Forecast
The Indus Towers Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹339.44 and ₹341.30. A breakdown below any of these levels will issue sell signals. 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. 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 Monday, June 10, 2024, and so far it has fallen -1.13%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, June 06, 2024 in the short-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.
Golden Star
The stock had a Golden Star Signal on Thursday, June 06, 2024 in the short-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 Indus Towers Limited stock
Indus Towers Limited finds support from accumulated volume at ₹336.45 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 ₹3.95 between high and low, or 1.16%. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INDUSTOWER.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Indus Towers Limited to open at ₹343.38, and during the day (based on 14 day Average True Range), to move between ₹329.29 and ₹359.11, which gives a possible trading interval of +/-₹14.91 (+/-4.33%) up or down from last closing price. If Indus Towers Limited takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹346.70 (0.73%) than the support at ₹336.45 (2.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Indus Towers Limited stock A Buy?
Indus Towers 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: -1.400 Sell Candidate Unchanged
Predicted Opening Price for Indus Towers Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹343.38 ( 0.237%) | ₹344.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDUSTOWER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 347.33 | 0.91% |
| R2 | 345.82 | 0.472% |
| R1 | 344.89 | 0.201% |
| Price | 344.20 | |
| S1 | 341.87 | -0.676% |
| S2 | 340.94 | -0.95% |
| S3 | 339.43 | -1.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 364.00 | 5.75% |
| R2 | 348.15 | 1.15% |
| R1 | 346.70 | 0.726% |
| Price | 344.20 | |
| S1 | 336.45 | -2.25% |
| S2 | 334.00 | -2.96% |
| S3 | 307.95 | -10.53% |
INDUSTOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2022 | May 13, 2022 | Jun 04, 2022 | ₹11.00 | 5.46% |
| 2 | Feb 08, 2021 | Feb 08, 2021 | Feb 27, 2021 | ₹17.82 | 6.91% |
| 3 | Aug 05, 2020 | Aug 05, 2020 | Aug 26, 2020 | ₹2.30 | 1.15% |
| 4 | May 05, 2020 | May 05, 2020 | May 22, 2020 | ₹4.10 | 1.98% |
| 5 | Dec 19, 2019 | Dec 19, 2019 | Jan 09, 2020 | ₹2.75 | 1.10% |
FAQ
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