Inox Wind Limited Stock Forecast
Green day on Thursday for Inox Wind Limited stock after gaining 1.30%
(Updated on Jun 20, 2024)
The Inox Wind Limited stock price gained 1.30% on the last trading day (Thursday, 20th Jun 2024), rising from ₹139.08 to ₹140.89. During the last trading day the stock fluctuated 3.99% from a day low at ₹140.20 to a day high of ₹145.79. The price has fallen in 6 of the last 10 days but is still up by 0.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ₹1.50 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -51.49% during the next 3 months and, with a 90% probability hold a price between ₹24.73 and ₹220.60 at the end of this 3-month period.
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INOXWIND.NS Signals & Forecast
There are mixed signals in the stock today. 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 ₹145.26 and ₹348.91. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 2.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 Inox Wind Limited stock
Inox Wind Limited finds support from accumulated volume at ₹139.80 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹5.59 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INOXWIND.NS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Inox Wind Limited to open at ₹142.29, and during the day (based on 14 day Average True Range), to move between ₹119.04 and ₹162.74, which gives a possible trading interval of +/-₹21.85 (+/-15.51%) up or down from last closing price. If Inox Wind Limited takes out the full calculated possible swing range there will be an estimated 31.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹139.80 (0.77%) than the resistance at ₹143.40 (1.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Inox Wind Limited stock A Buy?
Inox Wind 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: -3.454 Sell Candidate Unchanged
Predicted Opening Price for Inox Wind Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
₹142.29 ( 1.00%) | ₹140.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INOXWIND.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 147.88 | 4.96% |
R2 | 145.75 | 3.45% |
R1 | 144.43 | 2.51% |
Price | 140.89 | |
S1 | 140.16 | -0.520% |
S2 | 138.84 | -1.46% |
S3 | 136.70 | -2.97% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 147.75 | 4.87% |
R2 | 145.40 | 3.20% |
R1 | 143.40 | 1.78% |
Price | 140.89 | |
S1 | 139.80 | -0.774% |
S2 | 139.08 | -1.28% |
S3 | 138.05 | -2.02% |
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