Ingersoll-Rand (India) Limited Stock Forecast
Weaker technical forecast for Ingersoll-Rand (India) Limited as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Ingersoll-Rand (India) Limited stock price fell by -1.08% on the last day (Friday, 28th Jun 2024) from ₹4,624.50 to ₹4,574.35. During the last trading day the stock fluctuated 2.01% from a day low at ₹4,560.05 to a day high of ₹4,651.85. The price has fallen in 6 of the last 10 days and is down by -0.82% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 8 thousand shares were bought and sold for approximately ₹37.38 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹4,452.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.69% during the next 3 months and, with a 90% probability hold a price between ₹5,640.45 and ₹6,807.11 at the end of this 3-month period.
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INGERRAND.NS Signals & Forecast
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. The Ingersoll-Rand (India) Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹4,682.77 and ₹4,574.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -6.62%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ingersoll-Rand (India) Limited stock
Ingersoll-Rand (India) Limited finds support from accumulated volume at ₹4,395.55 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 ₹91.80 between high and low, or 2.01%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INGERRAND.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ingersoll-Rand (India) Limited to open at ₹4,595.42, and during the day (based on 14 day Average True Range), to move between ₹4,389.53 and ₹4,759.17, which gives a possible trading interval of +/-₹184.82 (+/-4.04%) up or down from last closing price. If Ingersoll-Rand (India) Limited takes out the full calculated possible swing range there will be an estimated 8.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,706.10 (2.88%) than the support at ₹4,395.55 (3.91%), 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 Ingersoll-Rand (India) Limited stock A Buy?
The Ingersoll-Rand (India) Limited stock holds several negative signals and despite the positive trend, we believe Ingersoll-Rand (India) Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -4.310 Sell Candidate Downgraded
Predicted Opening Price for Ingersoll-Rand (India) Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹4,595.42 ( 0.461%) | ₹4,574.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INGERRAND.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,687.22 | 2.47% |
| R2 | 4,652.15 | 1.70% |
| R1 | 4,630.48 | 1.23% |
| Price | 4,574.35 | |
| S1 | 4,560.35 | -0.306% |
| S2 | 4,538.68 | -0.780% |
| S3 | 4,503.62 | -1.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,795.55 | 4.84% |
| R2 | 4,738.90 | 3.60% |
| R1 | 4,706.10 | 2.88% |
| Price | 4,574.35 | |
| S1 | 4,395.55 | -3.91% |
| S2 | 4,160.20 | -9.05% |
| S3 | 3,977.55 | -13.05% |
INGERRAND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | ₹50.00 | 1.71% |
| 2 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | ₹20.00 | 0.711% |
| 3 | Nov 22, 2022 | Nov 22, 2022 | Nov 22, 2022 | ₹23.00 | 0.98% |
| 4 | Nov 18, 2022 | Nov 18, 2022 | Nov 18, 2022 | ₹23.00 | 1.00% |
| 5 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ₹20.00 | 1.31% |
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