Inox Wind Limited Stock Forecast

Is Inox Wind Limited stock still a buy after falling -72.81% on Friday?
(Updated on May 24, 2024)

INOXWIND.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Inox Wind Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹537.09 and ₹566.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -74.59%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Inox Wind Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 ₹7.95 between high and low, or 5.03%. For the last week, the stock has had daily average volatility of 4.77%.

Inox Wind Limited is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (INOXWIND.BO) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Inox Wind Limited to open at ₹162.75, and during the day (based on 14 day Average True Range), to move between ₹101.97 and ₹226.43, which gives a possible trading interval of +/-₹62.23 (+/-37.90%) up or down from last closing price. If Inox Wind Limited takes out the full calculated possible swing range there will be an estimated 75.80% move between the lowest and the highest trading price during the day.

Is Inox Wind Limited stock A Buy?

The Inox Wind Limited stock holds several negative signals and despite the positive trend, we believe Inox Wind 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 Strong Sell candidate.

Current score: -5.313 Strong Sell Candidate Downgraded

Predicted Opening Price for Inox Wind Limited of Monday, May 27, 2024

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